INDIA
MODI REGIME ALLOWED 5.55 LAKH CRORE BAD LOANS WRITE OFF IN FIVE YEARS
MOST OF THE DEFAULTS ARE DELIBERATE FROM BUSINESS PEOPLE
2019-04-13 10:29
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The Narendra Modi Government has allowed the write off of the bad loans identified by the public sector banks to the tune of Rs. 5.55 lakh crore during its tenure which is 80 per cent of the total amount of Rs. 7 lakh crore during the last ten years. The figures revealed by the Reserve Bank of India repudiate the statement by the Finance Minister Arun Jaitley that the UPA regime of Dr. Manmohan Singh was responsible for the bad loans and the write offs. The RBI data now reveals that out of this total of 7 lakh crore write off in the last decade, the contribution of the UPA2 regime was only 20 per cent.