New Delhi, July 21: Responding to a no-confidence motion in the Parliament, Prime Minister Narendra Modi said that the story of NPA started in the country during the Congress tenure and continued till 2014. Prime Minister Modi accused the former Congress government that during its tenure, they started the task of giving a large number of loans to the party's close friends from the government, which led to a major challenge of the NPA against the country.
The Prime Minister said that till 60 years of independence, the country's banks had given only Rs 18 lakh crore as loans. But from 2008 to 2014, the amount has increased from Rs 18 lakh crore to Rs 52 lakh crore. According to Modi, during these six years of Congress 60 years of debt have been doubled.
PM Modi said, “I want to tell you about the NPA problem. Much before Internet Banking, Congress Party invented Phone Banking and this caused the NPA mess. A phone call would get loans for their cronies and the nation suffered.”
“The underground loot of banks went on from 2009 to 2014. So long as Congress was in power, the game of looting the nation continued. “How did it happen? Internet banking came much later. But Congress is so intelligent that even before internet banking, phone banking started in India. Through phone banking, they increased NPAs to 52 lakh crore from 18 lakh crore,” said Modi. “What was the method? Loans were given on telephone. Loans after loans were given on telephone,” he added.
While highlighting this aspect of the NPA, the PM said that during the time when the time for returning of the loans to the businessmen was given to them, instead of charging them, they were given a new loan and this led to the increasing debt burden on the government banks. PM Modi claimed that due to this carriage of Congress, the NDA government got the problem of NPA as a landmine in 2014.
Modi said that there is a reason for NPA growth and that decisions were taken during the tenure of the UPA government, so that the problem of NPAs is hidden from the balance sheet of banks and no one can know this landmine. The PM claimed that during the NDA's government's office, honesty started the tradition of showing the real condition of the bank's NPA. After this, the reform program was started to repair the banks in a new way.