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SHOCKING STATE OF OUR BANKS
KT NEWS SERVICE. Dated: 2/23/2020 1:19:18 AM
NEW DELHI, Feb 22: Harping on the latest Credit Suisse report, the Congress on Saturday expressed concern over the shocking state of the Indian banks and asked: "Who is responsible for safety of people's money in banks?"
In a tweet, its chief spokesman Randeep Singh Surjewala said the Credit Suisse has exposed "shocking state of bank loan waivers, NPAs & impaired banking assets." Credit Suisse is Switzerland-based financial service company that advises clients on all aspects of finance.
Surjewala listed some of its disclosures including since 2014, Modi Govt has given super-sized bank loan waivers worth ? 7,77,88 crore and asked why the government not disclosing names of the beneficiaries of this largesse.
Some other disclosures in the Credit Suisse report:
-- Gross banking NPAs are a whopping ? 9,10,800 crore;
-- Impired banking assets are a colossal ? 16,88,000 cr;
-- Credit growth of private banks down to 12%, PSU banks to 4%.
Surjewala asked why no debt relief to India's farmers by the Modi Govt that can waive loans of ? 7,77,800 cr in five years of crony friends.