18
Sunday
November 2018
4:26 PM IST
News Headlines
India in Australia: Kohli promises to not start arguments, only finish them        At Least Two Killed, Eight Injured In Blast In Karachi        Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report        'Gaja' crosses coast, rainfall pounds TN, 22 dead        Sabarimala board to move SC, buy time to implement order        Sabarimala board to move SC, buy time to implement order        Sindhu crashes out; Srikanth, Sameer enter quarterfinals of Hong Kong Open        No more chopping and changing till World Cup: Ravi Shastri        Air India eyes Rs 800 cr from sale of over 70 properties        Intel India opens design house costing Rs 1,100 cr at B'luru        US, China see rival visions for entwined Asia-Pacific region        Imran Khan to visit Malaysia next week; likely to seek monetary aid        EC removes Mizoram chief electoral officer after protests        Lankesh murder accused sent to SIT custody in Pansare case        Agri sector needs long-term solutions, loan waiver temporary: Naidu        Top India, China officials hold defence, security dialogue, agree to step up military exchanges        Jailed Om Prakash Chautala Expels Older Son For "Anti-Party Activities"        ISRO Launches Communication Satellite, Has 'Geo-Eye' To Monitor India        US Vice President Mike Pence takes Myanmar’s Aung San Suu Kyi to task over treatment of Rohingya        Sri Lankan Parliament passes no-trust vote against Rajapaksa        
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.


Sabarimala board to move SC, buy time to implement order
Sabarimala board to move SC, buy time to implement order
Top India, China officials hold defence, security dialogue, agree to step up military exchanges
Flipkart Group CEO Binny Bansal quits over 'serious personal misconduct' charges
70 per cent turnout in first phase of Chhattisgarh polls: EC
PM celebrates Diwali with soldiers in Harshil near India-China border
India jumps 23 notches to 77th rank on World Bank's 'ease of doing biz' ranking
SC asks CVC to finish probe against Verma in two weeks; ex-judge to supervise
CBI chief's removal illegal: Rahul
Verma was collecting documents related to Rafale scam, forcibly sent on leave: Rahul
Ready to hold talks with anyone, but terror and dialogue cannot go together: Rajnath Singh
SC writ fails in Sabarimala, not a single young woman allowed by protesters
Fund raising: Only CM gets permission for foreign trip
Give satisfactory explanation or quit: Cong to Akbar
High-stakes polls in 5 states in Nov-Dec; Chhattisgarh to vote in 2 phases
Denis Mukwege, Nadia Murad wins the Nobel Peace Prize
Petrol, diesel prices cut by Rs 2.50 after excise reduction; oil cos absorbing Re 1
No alliance with Cong in Rajasthan, MP: Mayawati
Rafale will be game-changer for subcontinent: Air chief
Protesting farmers end march in Delhi
KERALA NEWS
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
 Thiruvananthapuram, OCT 27: As the number of people arrested for allegedly being involved in violent  
Vijayan urges UAE Keralites to back salary challenge
Sabarimala row: Protests against SC verdict continue
Balabhaskar's wife Lakshmi shifted to ICU
INTERNATIONAL NEWS
At Least Two Killed, Eight Injured In Blast In Karachi
 (KARACHI, Nov17, 2018): A bomb killed at least two people and wounded eight others in Pakista
US, China see rival visions for entwined Asia-Pacific region
Imran Khan to visit Malaysia next week; likely to seek monetary aid
US Vice President Mike Pence takes Myanmar’s Aung San Suu Kyi to task over treatment of Rohingya
NATIONAL NEWS
'Gaja' crosses coast, rainfall pounds TN, 22 dead
 (Chennai, Nov17, 2018): Cyclone Gaja ripped through Nagapattinam early Friday uprooting trees
EC removes Mizoram chief electoral officer after protests
Lankesh murder accused sent to SIT custody in Pansare case
Agri sector needs long-term solutions, loan waiver temporary: Naidu
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.