Debt is not forgiven, more money has been recovered than the debt! Nirmala Sitharaman said

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BanglaHunt Desk: Debt has not been forgiven. Those who are not repaying bank loans intentionally despite their ability have only been brought on the list of intentional defaulters. The central government has tried its best to recover the debt, said Finance Minister Nirmala Sitharaman. Mehul Choksi, Nirab Modi, Vijay Maliya's arrears of Rs 6,606 crore are written off by the Reserve Bank.

In a series of tweets on Tuesday night, the Union Finance Minister claimed that the government was taking strict action against intentional defaulters. No debt was forgiven. A total of 9,98 cases have been filed against Vijay Malia, Nirab Modi, Mehul Choksi and others accused of financial corruption. 3,515 FIRs have been filed. Besides, Tk 16,332.6 crore has been recovered from intentional defaulters, the finance minister said.

On Monday, the Congress alleged that the NDA government had written off Rs 8,606 crore in debts of 50 defaulters, including Nirab and Malia. Using the Reserve Bank of India's (RBI) response to the Right to Information Act (RTI) as a tool, the Congress has alleged that since coming to power in 2014, loans amounting to Tk 7.6 lakh crore have been written off. They wanted an answer from Prime Minister Narendra Modi and the Union Finance Minister.

In response, the Finance Minister alleged that the Congress was shamelessly trying to mislead the people by pointing out what measures have been taken against Malia, Nirab, Choksi. On the contrary, during the UPA era, between 2009-10 and 2013-14, commercial banks wrote off loans worth Tk 1,45,222 crore.

Citing various media reports and statements by former RBI Governor Raghuram Rajan, the finance minister claimed that a large number of “bad” loans were disbursed between 2006-07. “Many promoters were given loans who have a history of default,” he said. Besides, he taunted Rahul Gandhi, saying, “If Shri Rahul Gandhi had consulted with Manmohan Singh (then Prime Minister) about what these (debt) waivers were.”

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