NPAs in Indian banks is Congress’ making: Modi

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New Delhi, July 20 (IANS) Prime Minister Narendra Modi on Friday accused the Congress of creating a large mess of NPAs in Indian banks, saying loans were given to select industrialists during the previous UPA rule.

“I want to tell you about the NPA problem. Much before the Internet banking, the Congress invented phone banking and this caused the NPA mess. A phone call would get loans for their cronies and the nation suffered,” Modi said, replying to the debate on the no confidence motion in the Lok Sabha.

“Our government decided that the banks should come out into the open with NPAs, and we also took some decisions that would help the country in long run.”

He said sixty years after independence, Rs 18 lakh crore was the total bank loan but between 2008 to 2014, this increased to Rs 52 lakh crores.

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–IANS

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