Topic: Bad loans
Example of what the Narendra Modi led NDA government inherited. Example of what the Modi government cleaned up.
Finance minister Arun Jaitley called it a success of IBC, as they aimed at recovering 1.8 lakh crore this fiscal year.
Punjab National Bank (PNB) recovered a record Rs 11,378 crore from defaulters in the first five months of this fiscal.
The former RBI governor has made these revelations in his letter to the Lok Sabha panel
Congress launched Aadhaar without a legal framework and its policies led to large NPA
As per a Bloomberg report, the government is formulating an ambitious plan
GST's mandate is not to catch bank frauds, but the systems in place in the GST law have helped trace such a potential fraud.
Unless, this is done, there is no point in blaming the auditors
The loans can prove to be a major source of embarrassment for Congress
The measures taken under the NDA have only improved the transparency and accountability in public sector banks.
Understanding technical terms is not everybody's cup of tea.
Wilful defaulters will not get a chance to rebid for their assets on auction.
Lot of pseudo-economics is being spread on social media
Reserve Bank of India is planning to use insolvency laws against the big loans defaulters.
Defaulters have not been named, but banks will be asked to initiate insolvency proceedings to recover the dues.
The move will empower the central bank to act on behalf of other banks against wilful defaulters.
