Highest amount of bank loans written off in present govt's tenure : Cong

Highest amount of bank loans written off in present govts tenure : Cong

New Delhi, Charging the Narendra Modi government of favouring their favorite businessmen, the Congress on Saturday alleged that banks have written off Rs 5.5 lakh crore in the past five years during the present government's tenure which was the highest so far. Speaking to reporters here , COngress spokesperson Abhishek Manu Singhvi said,' as of now the total amount of write offs by the banks is Rs 7 lakh crore out of which surprisingly , 5.5 lakh crore has been written off by the banks during the Modi government's tenure.' The Congress demanded that the government disclose the names of such businessmen or those who were not able to pay the debts and whose debts the banks had to write off , which is equal to not getting back the money. Mr Singhvi accused the BJP of favoring their blue eyed corporates. 'When a bank writes off a loan, the incentive to recover the same is virtually nil ,'he said. He also accsued BJP of benefitting the few businessmen in the name of bringing reforms in banking. He said that the government should provide a break up of all such defaulters and how much they owe to the banks. 'The write offs in the present government's tenure has been alomost 1 lakh crore per year as an average ,' said the COngress leader.

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