Chidambaram asks PM Modi to reveal number of bad loans under NDA

Former finance minister P Chidambaram on Sunday hit back at Prime Minister Narendra Modi on his recent remarks on loans given during the United Progressive Alliance (UPA) regime, asking the National Democratic Alliance (NDA) government to reveal the number of loans given by it which has turned into Non-Performing Assets or NPAs.

In a series of tweets, Chidambaram said, "Let's assume that PM is right when he says that loans given under UPA have turned bad. How many of those loans were renewed or rolled over (that is 'evergreened') under NDA?"

The former finance minister also questioned as to why the present dispensation did not recall those loans, which were issued by the previous government and turned bad.

"Why were those loans not recalled? Why were those loans evergreened?" Chidambaram said in another tweet.

Questioning how many loans were given after May 2014 that were turned into non-performing assets, another tweet by Chidambaram read, "How many loans and how much that were given after May 2014 have become non-performing assets?"

Chidambaram further said that the above question was also raised in the Parliament, however, no answer has been received so far.

Chidambaram's response came after Prime Minister Modi on Saturday launched an attack on the Congress, saying the loans were lent by banks to only selected rich businessmen after phone calls were made by 'namdars' under the previous UPA regime.