Congress responds to FM’s tweet on loan write off, says it weakens Bank architecture fiscally, imprudently

Congress responds to FM’s tweet on mortgage write off, says it weakens Financial institution structure fiscally, imprudently | Financial system Information

New Delhi: Congress social gathering on Wednesday responded to Finance minister Nirmala Sitharaman’s tweets on mortgage write off.
Finance minister Nirmala Sitharaman earlier within the day had refuted Congress MP Rahul Gandhi’s claims on company mortgage write off, including that the Congress social gathering has misled folks over this.

The matter pertains to latest RBI reply in an RTI that excellent loans amounting to Rs 68,607 crore of high 50 wilful financial institution mortgage defaulters within the nation have been technically written off until September 30, 2019. These embody companies of fugitives like Mehul Choksi and Vijay Mallya.

Sitharaman in a collection of tweets stated that each Gandhi and Congress spokesperson Randeep Surjewala have tried to mislead folks over the difficulty.

Surjewala, responding to the tweets requested,  “Why has Modi Govt written off Financial institution Loans price ₹6,66,000 Cr between 2014-15 & 2019-20?”

He additionally questioned if the RBI’s RTI reply dated 24th April, 2020 of Financial institution loans write off of Rs 68,607 Cr flawed or proper?

“Why is Modi Govt righting off Financial institution Loans of absconders & fraudsters like Nirav Modi+Mehul Choksi(₹8,048 CR), Jatin Mehta(₹6,038 CR), Mallya(₹1,943 CR) & others as per RBI’s RTI reply of 24/4/2020?, the congress spokesperson wrote, asking “Who permitted such enormous write offs of Financial institution loans of defaulters & why?”.
He additional added that cleansing the “Banks of individuals’s cash by righting off loans of absconders & fraudsters just isn’t known as ‘cleansing the system’.

Absconding dimantaire Choksi’s firm Gitanjali Gems tops the record of those defaulters with a whopping quantity of Rs 5,492 crore, in line with the record.

Mallya’s Kingfisher Airways figures within the record at quantity 9, with excellent of Rs 1943 crore which have been technically written off by the banks.

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