14
Wednesday
November 2018
6:48 PM IST
News Headlines
India to host Italy on grass in Kolkata        It won't be easy for Mary Kom, says High Performance Director Nieva        Sensex rebounds 332 pts on easing crude, rupee gains        Govt mulls second round of 2,500 MW medium-term PPA auction        UK says Brexit deal 'almost within touching distance'        Trump criticises Macron again over European defence remarks        Infiltration bid foiled by Army in J&K, two terrorists killed        Delhi's pollution remains 'severe' as light showers further deteriorates air quality: authorities        Flipkart Group CEO Binny Bansal quits over 'serious personal misconduct' charges        Preparing for Australia tour by watching videos: Shami        India invites Swedish companies to explore investment opportunities        Govt cancels ED officer Rajeshwar Singh's leave        175 dead, over 10,000 affected by Nigeria cholera outbreak        Lankan parties move SC against Parliament dissolution by Prez Sirisena        Delhi pollution: Task forces conducts meetings on WhatsApp for urgent decisions        PM slams Rahul, Sonia for questioning note ban; need no certificate from those on bail        70 per cent turnout in first phase of Chhattisgarh polls: EC        Union Minister Upendra Kushwaha attacks NDA ally Nitish Kumar amid reports of RLSP MLA joining JD(U)        Mining Baron Janardhana Reddy Remanded in Custody Till November 24 for 'Shielding' Ponzi Scam Accused Father-Son        Death toll hits 25 from wildfires at both ends of California        
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Kerala 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.


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ENTERTAINMENT NEWS
Vaikom Vijayalekshmi ties knot with Anoop
 Vaikom: Playback singer Vaikom Vijayalekshmi has tied knot with Anoop N. at Vaikom Mahadeva temple.  
Mohanlal's Odiyan: Official trailer launched
Mammootty narrates Odiyan's intro?
Sradha Kapoor as Saina Nehwal: First look poster is out.
INTERNATIONAL NEWS
UK says Brexit deal 'almost within touching distance'
 London, Nov 13 (AP) Britain and the European Union are "almost within touching distance" of a Brexit
Trump criticises Macron again over European defence remarks
175 dead, over 10,000 affected by Nigeria cholera outbreak
Lankan parties move SC against Parliament dissolution by Prez Sirisena
NATIONAL NEWS
Infiltration bid foiled by Army in J&K, two terrorists killed
 Srinagar, Nov 13 (PTI) Two unidentified terrorists were killed Tuesday when the Army foiled an infil
Delhi's pollution remains 'severe' as light showers further deteriorates air quality: authorities
Delhi pollution: Task forces conducts meetings on WhatsApp for urgent decisions
PM slams Rahul, Sonia for questioning note ban; need no certificate from those on bail
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