Banks reeling under NPAs: Akhilesh Yadav

LUCKNOW: Samajwadi Party national president Akhilesh Yadav on Thursday said that the ground breaking ceremony by Prime Minister Narendra Modi in UP for 81 projects worth Rs 60,000 crore was a farce as banks were not able to fund the new projects because they were overburdened with mounting NPAs.

In a message on social media, Akhilesh said that under the Modi government, a situation had come when the government had to infuse hundreds of crores to ensure that public sector banks were not closed. How could then these banks funds the new projects as promised by Modi in Lucknow, he asked.

The SP chief said that this was the first time when NPAs of banks had risen so high that dozens of them were facing closure.