New Delhi:
The government is constantly strengthening the banking system and strict action is going on against the loan defaulters. Finance Minister Nirmala Sitharaman has made it clear in Parliament that the government will continue to take action against those who took loans from banks and fled abroad without paying. He informed that till now property worth Rs 749.83 crore has been seized in such cases.
The Finance Minister has made it clear that no scammer will be spared and improvements will be made to strengthen the country’s banking sector.
Banking reform and decline in NPA
The Finance Minister said that there was a lot of pressure on banks in 2014. The condition of banks was bad. India was considered in five weak economy. But due to many important steps of the government, now the situation has become much better. The government took many important measures to improve the condition of the bank. By September 2024, the gross non -performing asset (NPA) of public sector banks has come down to 2.5%, which was quite high earlier.
Government banks earned record profits
He said that public sector banks made a profit of Rs 1.41 lakh crore in the last financial year, which is the highest ever. He hoped that the banks would perform even better this year.
Strict action against loan defaulters
The Finance Minister rejected the allegations of the opposition outright, which was said that the government had waived the loan of loan defaulters. He clarified that these loans have not been forgiven, but ‘right off’, that is, banks removed them from their balance sheet, but their efforts to recover them are going on.
ED recovered Rs 22,280 crore
He said that the Enforcement Directorate (ED) seized assets worth about Rs 22,280 crore and handed it to the right claimants under the legal process … Action under the Fugitive Economic Offenders Act. 31 December 2024, 9 people have been declared a fugitive economic offender and their assets worth Rs 749.83 crore have been seized. The Finance Minister said that the government is taking strict action in such cases and no one will be allowed to escape.
Small farmers also benefited
Nirmala Sitharaman said that small farmers have benefited the most of the government’s direct cash transfer policy. He also said that there was corruption in MNREGA, Kisan Lone waiver and food security schemes in earlier governments, but the current government has implemented it with transparency.