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    Published On : Fri, Feb 23rd, 2018

    Thousands of Nirav Modis roaming freely in country, SIT should probe into banks, says Agrawal

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    Nagpur: Maharashtra Pradesh Congress Samiti’s Farmers and Farm Labourers Cell Pradesh Vice-President Sandip Agrawal through a release has

    said that there is a anger in the entire country after present Punjab National Bank scam. Lakhs of such scam are lying hidden as the politicians and police personnels are hand in glove. Many such Nirav Modis in country are living a luxurious life. He alleged that some bigwigs of various sectors are enjoying till their hearts content in Modi government’s period.

    Agrawal alleged that due to the devious policy of RBI the frauds are being committed. He demanded that SIT should be formed under CBI and strict investigation should be done of the bbanks . If the government does not take things seriously then very soon the agitation will be launched.

    In 2008 pending loan amount was Rs 40,000 crores which has gone upto 2,60,531 crore in 2014. Among debtors, there are so many who have borrowed more than 10 crores and they have 160164 crores NPA (Non Performing Assests) was remaing with them. The NPA of the government banks till December 2015 was 3,93,047 crores and in December 2016 it rose to 6,14,872 crores. The gross debt is 11 per cent while the private banks NPA is nearly 83,000 crores.

    According to Sandip Agrawal till 31 June 2017 it rose to 8,29,333 crores. According to Union Finance Minister the bad accounts are more than 8,00,000 crores. It is likely to go up in March 2018.

    It is true that since 2000 till now 4,00,000 crores have been write off. The Deputy Governor of Reserve Bank of India who retired recently has said that the NPA number may go upto 20,00,000 crores. There are efforts to restructure a big portion of it.

    Just of SBI the NPA is 98,172.80 crore, PNB’s 55,581 crores and Bank of India’s NPA 49,871.13 crore, Bank of Baroda 40,521crore, Indian Overseas Bank 33,048 crores. NPA of 25 per cent Govt Banks is 5,21,655.81 crores.

    It may be mentioned that the country’s 52 project have stopped, where the banks 55,000 crores are stranded. The factories’ expenses is 3.5 crores while bank had granted a loan amount of Rs 67,000 crores. Among these are the 10 big factories who the banks have given Rs thousand crores. Essar Steel India (7054 cr), KSK Mahanadi Power Company (3113cr), Coaster Energen (2922 cr), JNR Kamalanga Energy (2447cr), Bhushan Steel (1940 cr), Essar Power Gujarat (1825 cr) Visa Steel (1743 cr) GMR Rajmundri (1644 Cr) GMR Chhattisgarh Energy (1589 cr) Lanco Amarkantak (1530 cr) till March 2018 the number might go upto 11,50,000 crore.

    Agrawal alleged that most of the government banks are running in loss. out of 25 banks 14 banks are running in loss and their total loss is 25,484.59 crore. The main reason behind is said to be waiving of NPA amount. The main reason behind the loss is waiving the loss of PNB’s Rs 5373.14 cr, Canara Bank’s 3905.49 cr Bank of India’s 3587,09 cr, Bank of Baroda’s 3230,14 cr, Scindicate Bank’s 2158.77 cr, UCO Bank’s 1715.16 cr. The banks among less than 1000cr loss include Indian Overseas, Corporation Bank, Dena Bank, Bank of Maharashtra.

    Due to loss even in Surat banks have a shortage of cash. The Central Government gave Rs 2,60,00 crores from last 11 years to pull them out of the loss. The employees of the bank are mainly responsible for the bankruptcy. Most of the recommenders are from the banks and most of them have put the banks in loss.

    According to Agrawal in the last five years loans amounting to Rs 3,67,765 crores of big industrialists have been waived. The farmers of this country have to pay more interest on loan though country is land of farmers. The industrialist are given loan at less interest rate. The Gujarat govt had given loan of Rs 558.58 crore at on interest rate of 0.1 for the Nano plant which has to be returned in 20 years. Punjab Government had had given a loan of Rs 1200 at just 0.1 interest rate to Laxmi Narayan Mittal for investing in steel production where as the farmers have to buy a tractor at 12 per cent interest and Tata buys costly car like Mercedes and Honda at just 7 per cent interest rate. According to the national sample survey report, out of the 9 crores farmers, 52 percent are head over heels in debt. The average loan of entire country is 47,000.

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