Last week, Canara Bank in an RTI disclosure said it has written off loans worth Rs 1.29 lakh crore in last 11 yrs. Opposition leaders then slammed govt over 'loot' of public money.
The company's directors allegedly defrauded a Canara Bank-led consortium of 6 banks, who filed a complaint with CBI over a year after RBI suggested they do so.
Processes vary from bank to bank with some asking customers to write to them to avail the moratorium, while others asking borrowers to inform them to opt out.
In FY 2025-26, AoN for 55 proposals amounting to Rs 6.73 lakh cr has been accorded by DAC. Both the quantum of AoN given and capital contracts signed, so far, have been the highest in any FY.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
COMMENTS