Taking lessons from the bank scandal on the calls of the namdass during the UPA regime, the NDA government now looks for banking reform.
It is notable that in the same way Indira Gandhi made important decisions for the nationalization of banks during her prime ministership. She nationalized 14 private banks on July 19, 1969. These banks were mostly occupied by large industrial houses. After this, the second round of nationalization took place in 1980, under which seven more banks were nationalized.
>> According to Arun Jaitley, the government had declared in the budget that the merger of banks is its main agenda and the first step has been taken in this direction. Talking about the weakening of the country’s banking system, the Finance Minister said that due to non-payment of new loans, the investment in the corporate sector was adversely affecting. Arun Jaitley said that this merger will strengthen the bank and the ability to lend them will increase.
>> The Finance Minister assured that the merger of these three banks is not bad news for any of these employees. “Any employee will not face any adverse situation,” he said. Earlier, the central government had merged the State Bank of India and its five associate banks last year.
>> Arun Jaitley further said that due to the huge lending and huge gains in the stranded debt (NPA), the condition of the banks is poor. In the financial year 2017-18, the figure of NPA has been more than Rs 10 lakh crore. According to the finance minister, how bad the situation is, it can be traced only in 2015. He attributed this to the previous UPA government and said that he kept the eyes on NPA issue.
Mergers like SBI will not have any adverse effect on existing service conditions of the employees of the three banks. The government has a majority stake in 21 banks. These banks have more than two-thirds of the bank’s assets in Asia’s third largest economy.
However, along with these public banks, there is a large stake in trapped debt. The area is affected due to this immersed debt and millions of rupees are required in the next two years to comply with global Basel-III capital regulations.
Smriti Irani had said a few days ago that Sonia’s leadership had done bad things to the banks.
It is worth noting that PM Modi also said this during a program organized here on the occasion of the inauguration of the payment bank of the Postal Department a few days ago. He said that until four to five years ago, most of the capital of the banks was reserved for close relatives of only one family. PM Modi said that since 2008, a total of 18 lakh crore rupees had been given for the year 2008, but in the next six years, this figure has reached Rs 52 lakh crore.
PM Modi asked for someone’s name, “Loan on call calls made by Namdhars were given. He said that on the anniversary of the nominees, the banks lend millions of rupees to the traders keeping the rules in mind. ”
PM Modi had said that it was well aware that debt will not be made, banks have given loans to some people on the order of a family. When the borrowers were unable to pay the debt, the banks were pressured to reorganize that loan. They accused the previous UPA government of concealing information related to non-executed assets (NPAs).
PM Modi said that after coming to power in the NDA government in 2014, he analyzed the situation in a big way and asked banks to strictly recover the outstanding loans.
It is true that the Congress has laid landmines in the way of the economy. Our government presented the correct picture of NPA and the previous government scandal was brought to the fore. During the last four years, all the loans have been reviewed more than Rs. 50 crores and the rules have been asked to ensure strict compliance.
’12 lacs of Rs. 1.75 crores on 12 major debt defaulters. The other 27 defaulters have owed one lakh crore rupees. We have never given any loan to one of these 12 big defaulters.