TIL Desk/Business/New Delhi/ The govt. has not waived any loans of big NPA defaulters, Finance Minister Arun Jaitley said yesterday dismissing rumour that loans of capitalists are being written off by banks. In a blog, Jaitley said that over the last few days, a rumour is being propagated regarding waiver of loans of capitalists by banks.
Observing that the time has come for the nation to be apprised of facts in this regard, he said one should ask at whose behest the loans, which have turned NPAs were disbursed between 2008 and 2014 by public sector banks.
“The public needs to ask the rumour mongers at whose behest or under whose pressure were such loans disbursed. They should also be asked that when these debtors delayed in repayment of their loans and interest thereon to Public Sector Banks, what decision was taken by the then Government,” the finance minister said.
Jaitley said that rather than taking firm decision against debtors the then government relaxed the loan classification norms to keep defaulters as non-NPA account holders. The asset quality review (AQR) carried out for clean and fully provisioned balance-sheets in 2015 revealed high NPA, the finance minister said.
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