New Delhi: Union Finance Minister Nirmala Sitharaman has shown her sharp attitude on questions from Congress in the loan waiver case. The Finance Minister put the class through a series of tweets by Congress and Rahul Gandhi. It said that from 2009 to 2014, 1.45 lakh crore rupees were deposited in the write-off. He has quipped that on the matter of bank default and loan waiver, I wish Rahul Gandhi would take advice from Manmohan Singh about what is write off (write off).
Congress made allegations
On the other hand, the Congress party had alleged that the Modi government has waived a loan of Rs 68,607 crore. Among those who were pardoned include Nirav Modi Mehul Chowki and Vijay Mallya. Rahul Gandhi had tweeted and said, 'I had asked the names of 50 big bank thieves in Parliament. The Finance Minister did not reply and now the RBI has put BJP friends including Mehul Choksi Nirav Modi on the list of bank thieves.'
This is how the Finance Minister responded
The Finance Minister said that bank wise details of willful defaulters above Rs 5 crore were given in Parliament in March this year. These include those whose money is outstanding and those who have been written off. Congress leaders are leading the country in the case of defaulters.
In a tweet thread, the Finance Minister explained in detail what happened in the defaulter case. He said that the RBI provided for 4 years for the NPA, only after full provisioning of the write-off, the NPA was written off but despite this the recovery efforts continued and no debt was waived.
Describing the definition of defaulter, he said that the defaulter is the one who does not repay the loan, he sells his property without the permission of the bank, he is the defaulter. He then accused the Congress and said that these defaulters are promoters who are related to UPA's phone banking.
Referring to the talk of former RBI Governor Raghuram Rajan, the Finance Minister said that from 2006 to 2008, large-scale bad loans were given to high-profile people whose history was to be defaulted. Despite this, the public sector banks continued to lend them. While the private sector banks were coming out of such a situation, the RBI could alert the quality of the loan at that time.
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