RBI governor Raghuram Rajan has said in his report to a parliamentary panel that he said a list of high profile fraud cases to the Prime Minister's Office but was "not aware of any progress" on it. In his report to the panel headed by BJP leader Murli Manohar Joshi, Raghuram Rajan says overoptimistic bankers, government foot-dragging and slow growth were factors in mounting bad loans. He also said the size of frauds in the public sector banking system had been increasing, though was still small compared to the overall volume of NPAs or Non-Performing Assets.
