Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
News18 » India
1-min read

Rs 3 Lakh Crore Recovered From Big Corporate Loan Defaulters: FM Piyush Goyal

Goyal also lashed out at the UPA regime for the "culture of phone banking" at state-owned banks and said that a withdrawal of the scheme has led to more transparency.

PTI

Updated:February 1, 2019, 12:08 PM IST
facebookTwitter Pocket whatsapp
Rs 3 Lakh Crore Recovered From Big Corporate Loan Defaulters: FM Piyush Goyal
Goyal also lashed out at the UPA regime for the "culture of phone banking" at state-owned banks and said that a withdrawal of the scheme has led to more transparency.

New Delhi: Finance Minister Piyush Goyal Friday said Rs 3 lakh crore have been recovered from big corporate loan defaulters.

Presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said, "We have stopped culture of phone banking".

He was referring to allegations of giving of "rampant loans over phone" during the UPA regime.

Goyal, stepped in as interim finance minister after Arun Jaitley had to fly to New York for medical treatment, further said Bank of India, Oriental Bank of Commerce and Bank of Maharashtra have been removed from the PCA (prompt corrective action) framework of the RBI.

"I hope other banks too would soon come out of PCA framework," he said.

The finance minister also said, "Our government had the guts to ask RBI to look at bad loans and present correct picture to nation".

He said the Insolvency and Bankruptcy Code was helping in recovery of non-performing loans.

"Even big businessmen are now worried about loans," Goyal said.

Support the daily wage earners who have been hit the hardest by the COVID-19 crisis. Click here to contribute to the cause. #IndiaGives

The daily News18 Coronavirus COVID-19 newsletter - Get your copy here.

Subscribe to News18 Daybreak. Follow us on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube

Read full article

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results