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‘Watchman’ Looting India: Rahul Gandhi's Jab at Modi Over RBI Report on Loan Defaulters

Gandhi took to Twitter to say that the 'stolen' money could have been used to fund MGNREGA for a year, waive off loans of farmers in three states and open 40 new AIIMS.

News18.com

Updated:December 31, 2018, 8:21 PM IST
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‘Watchman’ Looting India: Rahul Gandhi's Jab at Modi Over RBI Report on Loan Defaulters
Congress chief Rahul Gandhi. (Photo: PTI)
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Congress president Rahul Gandhi on Monday accused the Centre of “stealing” from banks and giving the money to “friends” as he quoted an article that said banks lost Rs 41,167 crore to fraud in 2017-18.

Gandhi took to Twitter to say that the “stolen” money could have been used to fund MGNREGA for a year, waive off loans of farmers in three states and open 40 new All India Institute of Medical Sciences (AIIMS).

The article, quoting data released by the Reserve Bank of India (RBI) said fraudsters had looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”.



There were 5,917 instances of bank fraud in 2017-18 as against 5,076 cases the previous year, show the data released on Friday. The instances of fraud have been rising over the last four years — by four times from Rs 10,170 crore in 2013-14.

Gandhi has been attacking the government over its failure to contain the “destruction” of the banking system, accusing them of letting beleaguered businessmen such as Nirav Modi and Vijay Mallya flee the country.

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