A recent press report said that Mr. Ramnath Pradeep, Chairman and Managing Director, Corporation Bank said that the Bank is aiming for a zero bad loans portfolio during its financial year. Further he also said that currently the net non-performing asset is about 0.47 per cent as a percentage of advances.
Mr.Pradeep also says that the education loan sector has become vulnerable these days. Further he denied the charges made against him by the central vigilance commission over the violation of lending norms at the Bank.
Further he also stated that he is ready with any response which he can give to the Finance Ministry any time and these are the professional hazards that a person faces in his everyday life as a banker.
As per the report, he assumed charge as the Chairman and the Managing Director in September 2010 and is retiring on September 30 of this year. Sources said that the charges levied against him mainly relate to the irregularities in extending advances.