19
Wednesday
September 2018
11:14 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Main News
Modi blames UPA govt for bad loan mess, says every penny will be recovered
 
New Delhi, Sep 1 (PTI) Prime Minister Narendra Modi on Saturday blamed 'phone-a-loan' scam of the previous UPA government for the bad loans in the banking sector and said every penny given at the behest of 'namdars' (dynasts) will be recovered.

Speaking at a function to launch the payments bank of the postal department, he said a majority of bank funds during the previous regime were reserved only for rich who were close to a particular family.

Against Rs 18 lakh crore loans given since Independence to 2008, the figure rose to an astronomical Rs 52 lakh crore in six years thereafter, he said.

"Loans were given on phone calls made by 'namdars' (dynasts)," he said without taking anyone's name.

Banks lent crores of rupees in contravention of rules to businessmen who were referred by the 'namdars', he alleged.

"Knowing fully well that loans will not be paid back, banks lent money on orders of a family to a few," he said adding the lenders were forced to restructure the debt when the borrowers defaulted.

He charged the previous UPA government of hiding the extent of NPAs.

Since coming to power in 2014, the NDA government has analysed the enormity of the situation and asked banks to strictly recover dues, he said.

"Congress had put the economy on a landmine," he said. "Our government brought out the true picture of NPAs and the scam of the previous government."

During the last four years, all loans in excess of Rs 50 crore have been reviewed and ensured that terms are strictly complied with, he said.

Modi said 12 of the biggest loan defaulters have an outstanding of Rs 1.75 lakh crore. Another 27 have Rs 1 lakh crore. "We never gave any loans to any of the 12 big defaulters," he said.


Goa Cong MLAs to meet Governor to seek dismissal of Parrikar govt
Court summons Lalu, others as accused in IRCTC money laundering case
SC awards Rs 50 lakh compensation to space scientist Nambi Narayanan in ISRO espionage case
Met Finance Minister Before Leaving Country, Says Vijay Mallya
Worried About Rupee Drop, India Considers Tapping NRI Wealth
SC dismisses plea to ban book 'Meesha', says craftsmanship of writer deserves to be respected
Activist's letter spoke of "Rajiv Gandhi-like" event: Police
PM owes people answer on why he inflicted demonetisation wound: Rahul
Rahul flays Centre for not providing adequate aid to flood-hit Kerala
Activists arrested in police raids in five states over alleged Maoist links
India, Pakistan to resume talks on Indus Waters Treaty in Lahore this week
Ambani asks Cong leaders to 'cease & desist' from speaking on Rafale; Party says won't be cowed down
Centre to Supreme Court: ‘Decision taken to reduce Mullaperiyar water level’
Former PM Atal Bihari Vajpayee
Half of Kerala reels under floods as 29 die, 54,000 are homeless
Idukki dam: All five shutters opened
Rains claim 26 lives in Kerala; Scores of dams opened
Red alert issued in Wayanad
Idukki dam shutter opened for trial run
Idukki dam reaches 2399; Trial run to be staged soon
KERALA NEWS
Bar bribery case: Court dismisses the vigilance report
 Thiruvananthapuram: The vigilance special court dismissed the report that absolved K.M. Mani from th  
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
Hartal affected normal lives
INTERNATIONAL NEWS
100 die in severe flooding in Nigeria: relief agency
 Lokoja (Nigeria), Sep 18 (AFP) Nigeria has declared a national disaster after severe flooding left a
Pak govt, Opposition agree for parliamentary probe into vote rigging charges
Air Tanzania to soon resume direct flights to India
Imran Khan govt auctions 70 luxury cars as part of austerity drive
NATIONAL NEWS
BJP, Congress mock Mamata's foreign visit
 Kolkata, Sep 18 (PTI) The opposition Congress and BJP Tuesday mocked West Bengal Chief Minister Mama
Three infants die every two minutes in India: UNIGME
'Sidhu could have avoided hugging Pak Army chief'
India's first IAS officer Anna Rajam Malhotra dies
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.