Amit Malviya - BJP India News

Scheduled commercial banks recovered 8,60,369 crore over the last eight financial years (provisional data) from NPAs: Amit Malviya

Amit Malviya – MP, BJP leader:

Such puerility from a former Finance Minister is a statement on his capability and a grim reminder of the scam-filled UPA era.

Insolvency is an internationally matured phenomena which our country adopted very late, due to cronyism and 60 years of subservience to the family.

Insolvency and Bankruptcy Code (IBC) targets resolution not recovery.

It aims that a company survives from it’s toxic promoters.

Mechanisms such as DRT/SARFAESI still exists for loan recovery. IBC is still better than other existing mechanisms.

The IBC resolution is not the end for Banks. Normally recoveries from guarantors and reversal of avoidance transaction happens at a later date, post resolution, so they do not constitute part of the resolution plan.

As a result of the comprehensive steps taken by the government and RBI to check the number of NPAs and efforts to bring them down, scheduled commercial banks recovered 8,60,369 crore over the last eight financial years (provisional data) from NPAs.

Wilful defaulters in India have decreased by 56% in last 8 years, down from 2,469 cases of wilful defaults in 2014-15 to 1,063 in 2020-21.

Banks recovered over 1,86,000 lakh crore from written-off loan accounts of wilful defaulters from 2014 to 2021.

Earlier, banks would write off corporate loans with trepidation… : P Chidambaram

P Chidambaram – Former Union Finance Minister:

Earlier, banks would write off corporate loans with trepidation because they would be asked questions by RBI and MoF

Now, they do it with impunity through the IBC process

Banks get together in a Committee of Creditors & “approve” a Resolution Plan demanding a huge write- off

Once the Resolution Plan is approved by NCLT, the corporate debtor is absolved of all liability

Banks call this a “haircut”. IBBI has calculated the “haircut” in 517 cases to be 69% of the loan amounts

The total “haircut” in 517 cases has been calculated at Rs 5,32,000 crore

In the old language, it means that banks have written off Rs 5,32,000 crore in 517 cases!

That is an average of Rs 1000 crore per case!

Have you heard of a haircut that cost Rs 1000 crore?!

Even others dissatisfied with party & resigning have not used words one third as harsh as Azad: Abhishek Singhvi

Abhishek Singhvi – MP, Senior Congress leader:

Sad to read the harsh words used by Azad.

Known as a man of restraint & culture, his words do not behove his stature nor his very long association with the party & Gandhis.

Not raising anything like this for decades & now letting lose erodes credibility.

Even others dissatisfied with party & resigning have not used words one third as harsh as Azad.

How could same party—Cong—be hunky dory when he occupied top posts & become vile & repulsive within days when he loses some posts?

Man of his stature & experience should have shown restraint.

Our 44521 govt schools teach 65 lakh students, we impart education in six mediums including 14 different tribal languages… : Himanta Biswa

Himanta Biswa – CM, Assam:

Dear Arvind Kejriwal Ji, Your ignorance is painful.

Let me help you. Assam is 50 times bigger than Delhi!

Our 44521 govt schools teach 65 lakh students- against your 1000+ odd schools.

Our army of dedicated teachers number 2+ lakh; Midday meal workers 1.18 lakh. Fathom it?

Unlike in Delhi, we manage fury of floods, dealt with militancy, negotiate hilly & tough terrains – and yet deliver high quality education.

We’re amazing hosts. Please come; spend 2 nights in our riverine area and hill districts.

See challenges we face. You’ll stop lecturing

We impart education in six mediums including 14 different tribal languages.

Our diversity is something that we’r proud of, cherish, & ensure it to thrive through our unique education system.

And yes, we do not have resources like that in Delhi. We’re proud of what we’ve and do!

And yes, when you’re in Assam, which you so desperately wish to, I will take you to our Medical Colleges, 1000 times better than your Mohalla Clinic.

Also meet our bright Govt school teachers & students.

And yes, stop worrying about making the country No 1, that Modi ji is doing.

Congress gave Ghulam Nabi Azad ji respect and recognition: Ashok Gehlot

Ashok Gehlot – CM, Rajasthan:

I am sorry to read about the decision and statement of Ghulam Nabi Azad ji.

Congress gave him respect and recognition.

For 42 years he has not remained without office – his words are inappropriate, beyond my comprehension

Sri Sri Ravi Shankar

Sri Sri at Sunrise

All that is precious in life is a secret. Love is a secret. Life is a secret. Your feelings, emotions are a secret. You are the biggest secret:
Sri Sri

Pic Credit : Sri Sri