National Politics

โ€˜Loans worth Rs 1,74,966 cr written off in 2021-22โ€™: MoS Finance Bhagwat Karad informs Rajya Sabha

Bhagwat Karad

New Delhi: The Union Minister of State for Finance, Bhagwat Karad on Tuesday informed the Rajya Sabha that loans worth Rs 1,74,966 crores were written off by scheduled commercial banks (SCBs) in the last financial year and Rs 33,534 crores were recovered from written-off loans in the last financial year.
The MoS Finance was replying to a query by CPI(M) leader John Brittas, seeking details of the loans written off by scheduled and other commercial banks, and the defaulted amount recovered from the written-off loans, over the last five years. He also sought the names and details of accounts against which loans above Rs 10 crores were written off.
In addition, the Upper House member also asked for the names of the top 25 loan defaulters in public sector banks.
As per the Reserve Bank of India (RBI), the amount of loans written off by scheduled commercial banks in the last five financial years was Rs 1,61,328 crores in 2017-18, Rs 2,36,265 crores in 2018-19, Rs 2,34,170 crores in 2019-20, Rs 2,02,781 crores in 2020-21 and Rs 1,74,966 crores in 2021-22, the ministerโ€™s written reply stated.

Also Read: Bharat Jodo Yatra: Congress To Mark 100 Days Of Padyatra With Concert In Jaipur

However, Karad said the RBI doesnโ€™t maintain records on the number of accounts written off.
The recovery in written-off loans over the last five financial years was Rs 12, 881 crores in 2017-18, Rs 25,501 crores in 2018-19, Rs 30,016 crores in 2019-20, Rs 30,104 crores in 2020-21, and Rs 33,534 crores in 2021-22, as per the RBI, his written reply further added.
MoS Karad, however, informed that as per the provision of Section 45E of the RBI Act 1934, the central bank is prohibited from disclosing borrower-wise credit information.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

Dear Readers,
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
Some error occurred

Related posts

National Politics

โ€œUP On Way To Becoming A State That Will Provide Jobs To Every Youthโ€: CM Yogi

ANI
Yogi

CM Yogi also talked about the Integrated Control and Command Centre, which not only helped in garbage and Covid management during the pandemic, but is also helping today in traffic control and monitoring crime to develop the smart cities also as the safe cities.

Mathura: Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday said that UP, which is one of the cleanest and most beautiful states of the country, is on way to becoming a state that will provide jobs to every youth and multiply the income of farmers and traders manifold in the coming years while ensuring the safety and security of everyone.

Addressing a gathering at the Prabuddha Jan Sammelan following the inauguration and laying of foundation stone of 210 development projects worth Rs 822 crore in Mathura, CM Yogi said that projects worth a total of around Rs 30,000 crore are either underway, proposed or in the pipeline for the development of the entire Brajbhoomi. Urging intellectuals to not to allow derailment of the development process by allowing others to take over the municipal bodies, Yogi said โ€œItโ€™s because they formed a new board after upgrading of Mathura as a municipal corporation and elected all the representatives from the BJP during the assembly elections eight months ago that the development was so rapid in the region.โ€

โ€œYou blessed us 8 months ago. You elected all BJP candidates. You proved that the land of Lord Krishna canโ€™t stand with immorality, corruption injustice and exploitationโ€, he remarked, adding, โ€œThe development of all the pilgrim spots of Brajbhoomi is taking place rapidly. The look of the place has changed dramatically in the last five years. The Braj Teerth Vikas Parishad is also playing important role in development of Brajbhoomi. You must not allow a speed breaker or the development process to get stalled.โ€

Also Read:Will Central Bank Digital Currency Help India Achieve five Trillion Economy Goal By 2030?

Yogi said that the whole world looks at UP with curiousity today.
โ€œInfrastructural works are being carried out. Waterways, flyovers, four-lane roads expressways and ropeways are being built, because we realise that only development can change the lives of people-youth, farmers and traders,โ€ he said.

Lauding PM Narendra Modiโ€™s role during the fight against the novel coronavirus, CM Yogi said โ€œWhile the world surrendered to the pandemic and is facing its after effects such as starvation deaths and regime change, India fought the pandemic successfully and provided free test treatment and vaccines along with free ration to the people, which no other country in the world did.โ€

CM Yogi also talked about the Integrated Control and Command Centre, which not only helped in garbage and Covid management during the pandemic, but is also helping today in traffic control and monitoring crime to develop the smart cities also as the safe cities.

โ€œUP has a glorious history with the birth place and the place of โ€˜Leelaโ€™ of Lord Krishna, along with the birth place of Lord Ram in Ayodhya being located in the state. In addition to Kashi Vishwanath Dham, the maximum number of places related to Lord Buddha as well as the Ganga and the Yamuna flow in the state. The countryโ€™s biggest event Prayagraj Kumbh is also organised in UP,โ€ he added.

He added that the Indian government took care of even the street vendors, who were the most affected during the pandemic.

โ€œNine lakh streets vendors were provided interest free loan in Uttar Pradesh alone. Workers are also benefitting from schemes like Vishwakarma Shram Samman and ODOP,โ€ he further said.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

Related posts

News Hub