Mumbai, Nov 16 (KNN)  RBI Governor, Raghuram Rajan has said that  the banking system should recognise financial stress in the industry at an early stage and help those who have genuine difficulties.

Addressing a bankers’ conference here yesterday Rajan said, "We have to ensure that the system recognizes financial distress early, takes steps to resolve it, and ensures fair recovery for lenders and investors."

"You have to help those with genuine difficulty while being firm with those who are trying to milk the system. The RBI will help you with every means at our disposal," he added.

To encourage banks to report incidents of bad loans or troubled borrowers and also to incentivise the resolution of bad loans and their recovery, the RBI is likely to announce measures to address the issue soon.  (KNN/ES)