NPA Defaulters

Opposition members in Rajya Sabha on Wednesday accused the government of writing off crores of rupees owed by wilful defaulters who have fled the country while crushing banks under the burden of non-performing assets. Participating in the discussion on the Banking Laws (Amendment) Bill, 2024 in the Upper House, Shaktisinh Gohil (Congress) said the government has written off Rs 87,000 crore owed by 50 wilful defaulters till 2024 citing official data. "People, including Mehul Chokshi and Rishi Agarwal are in the list of those wilful defaulters. The government has written off loans to those people who looted this country and fled abroad. But when poor, small traders and farmers default on loans the government auctions their assets," he said. Expressing similar views, Saket Gokhale (TMC) said by the government's own admission, consumption is down in the economy and people are not taking loans to buy any new products or to consume something new but they are taking loans to service their

Various suggestions have been received including renunciation of Indian citizenship and changes in the domestic law to deal with such kind of erring promoters

He said that over the last few days, a rumour is being propagated regarding waiver of loans of capitalists by banks

These 12 accounts have an exposure of more than Rs 5,000 crore each, with 60% or more bad loans

Bhushan Steel, Lanco Infratech, and Essar Steel the most indebted companies