Keeping the pressure on the Narendra Modi government in the Punjab National Bank fraud case, Congress president Rahul Gandhi on Sunday asked why Finance Minister Arun Jaitley was in “hiding” and the Prime Minister refused to speak.
The Congress also demanded that the government bring out a White Paper in the current session of Parliament on the health of India’s banks.
Targeting Mr. Modi and Mr. Jaitley for their silence, Mr. Gandhi tweeted: “PM Modi tells kids how to pass exams for 2 hrs, but won’t speak for 2 mins on the 22,000Cr banking scam. Mr. Jaitley is in hiding. Stop behaving as if you’re guilty! Speak up. # ModiRobsIndia”
‘Growing list’
At a press conference, the former Union Minister, Manish Tewari, quoting RBI data, said that in the past five years, the amount of money lost in bank frauds stood at ₹61,260 crore. “The list of such frauds keeps growing by the day. Now, there are reports in the public space that a company called Rotomac and it’s owner, a gentleman called Mr. Kothari, who owe ₹800 crore to a consortium of banks,” he said.
Pointing to the difference between non-productive assets (NPAs) and bank frauds, Mr. Tewari said: “NPA refers to a default on payment of interest on a loan for two quarters, but bank fraud is a case of outright loot and scoot.”
“The linkages between these alleged fraudsters and the highest echelons of the government raise some serious questions about the health of the Indian economy. Mehulbhai, Nirav Modi and, as I said, the list is growing. Therefore, the Congress demands a White Paper on the health of the Indian banking sector,” he said. The party would press for it in the second half of the Budget session starting on March 5, he said. The Congress also demanded that banks immediately disclose non-performing assets as of December 31,2017.
“After all, this is people’s money and they have a right to know who owes how much in which bank? Banks should also publish the names of fraudsters,” Mr. Tewari said.
