Banks Recovered Over Rs 10 Lakh Crore Bad Loans In Last 9 Years: Centre
NDTV
"This is in stark contrast to the situation before 2014 when the Congress-led UPA government turned the banking sector into a cesspool of bad loans, vested interests, corruption and mismanagement," Finance Minister Nirmala Sitharaman said.
Finance Minister Nirmala Sitharaman said today that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the reforms process implemented by the Modi government.
"The Directorate of Enforcement (ED) has investigated around 1,105 bank fraud cases, which resulted in the attachment of proceeds of crime amounting to 64,920 crores. As of December 2023, assets amounting to 15,183 crores have been restituted to public sector banks," the Finance Minister posted in a detailed statement on X.
"The Opposition, habituated to spreading lies, wrongly claims that there has been a "waiver" of loans given to industrialists," the Finance Minister said.
