- Waste of crores on entrepreneurs
- The common man was overwhelmed by the loan waiver of entrepreneurs
- Examples of more than 60% loan waiver
Corporate Loan : In the last few years, banks have 'written-off' loans worth lakhs of crores of big entrepreneurs and the service sector, the information of Parliament has come to light. Subhash Chandra is not the only one who has benefited from the banks' loan waiver worth crores. Common public money was squandered on Anil Ambani and many other entrepreneurs. According to the monsoon session of Parliament, banks have written-off about Rs 10 lakh crore of loans given to large companies and the service sector in the last 12 financial years. According to these figures, outstanding loans to large enterprises and the service sector increased from Rs 63,19,057 crore in FY2025 to Rs 69,21,734 crore in FY2026. (Corporate Loan)
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Fun for veterans, 'punishment' for commoners
In 2023-24, the total recovery from written-off band loans was only Rs 46,036 crore, adding the recovery of Rs 2.04 lakh crore between 2014-15 and 2022-23, the total was Rs 2.50 lakh crore. This means that a total of Rs 13.76 lakh crore was withdrawn from banks during the tenure of Prime Minister Narendra Modi.
Examples of more than 60% loan waiver
| Corporate borrowers | claim | recovery | apology |
|---|---|---|---|
| Ercel Ltd. | 36,102 | 6,600 | 82% |
| LANCO THERMAL POWER LTD. | 33.335 | 136 | 100% |
| Reliance Capital Ltd. | 26,089 | 9,661 | 63% |
| Jet Airways | 15,432 | 1,133 | 93% |
| Reliance Naval Adv Engr. | 12.884 | 2.043 | 84% |
| Essar Power MP Ltd. | 12,724 | 2,500 | 80% |
| Soybeans of interest | 12.146 | 4,223 | 65% |
| Lavasa Corporation | 6,642 | 1.604 | 76% |
| Orissa Manganese and Minerals | 5,414 | 318 | 94% |
| Zion Steel | 5.368 | 15 | 100% |
Shinde rubbed salt on BJP's wounds
The ongoing controversy over alleged loan waiver benefits to Subhash Chandra is not letting up. Sanjay Nirupam, the spokesperson of the Shiv Sena Shinde group, which is now part of the grand coalition government, rubbed salt in the BJP's wound and said that the issue of waiving the big loans of industrialists in this way can take a very serious form in the coming days. He said on his 'X' that the whole procedure of NCLT and the hair cut being given to loan companies is a terrible issue.
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