13
Tuesday
November 2018
10:46 AM IST
News Headlines
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        "Nationalism Betrayal Of Patriotism": Emmanuel Macron, Trump By His Side        3rd T20: Dhawan, Pant take Ind to victory, series win        FC Goa beat Kerala Blasters 3-1 in ISL        One killed, several injured in stabbing attack in Melbourne: Police        Journalists beware: After Bloomberg bots, AI news presenter debuts in China        Harmanpreet Kaur’s record century headlines India’s big win over NZ in opener        Mumbai City end NorthEast United’s unbeaten run        Chelsea beat BATE 1-0 in Europa League        Srikanth enters pre-quarterfinals of China Open        
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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.


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
James P. Allison and Tasuku Honjo wins Medicine Nobel
Women of all ages can enter Sabarimala : Supreme Court
Aadhaar gets thumbs up from Supreme Court
Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue
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
175 dead, over 10,000 affected by Nigeria cholera outbreak
 Lagos, Nov 12 (AFP) Suspected cholera cases have jumped in northeast Nigeria where Boko Haram violen
Lankan parties move SC against Parliament dissolution by Prez Sirisena
Death toll hits 25 from wildfires at both ends of California
"Nationalism Betrayal Of Patriotism": Emmanuel Macron, Trump By His Side
NATIONAL NEWS
Delhi pollution: Task forces conducts meetings on WhatsApp for urgent decisions
 New Delhi, Nov 12 (PTI) What happens when air pollution levels in the national capital are 'severe'
PM slams Rahul, Sonia for questioning note ban; need no certificate from those on bail
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
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