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Rahul Gandhi targets PM Modi over writing off bad loans
Congress chief Rahul Gandhi Monday said in "Modi's India", demonetisation meant "lining up and depositing money in banks" for the poor, while it was a "means of converting their black money" for crony capitalists.
New Delhi: Taking a swipe at the Centre, Congress chief Rahul Gandhi Monday said in "Modi's India", demonetisation meant "lining up and depositing money in banks" for the poor, while it was a "means of converting their black money" for crony capitalists.
He also alleged that crony capitalists got their Rs 3.16 lakh crore debt written off using public money.
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Modi's India-
— Rahul Gandhi (@RahulGandhi) October 1, 2018
For Common Man: Notebandi-line up and put ur money in banks. All ur details into Aadhar. U can't use ur own money.
For Crony capitalists: Notebandi-convert all ur black money to white. Let's write off 3.16 lakh Cr using common man's money. https://t.co/M0W2KUicFH
The Congress leader also hit out at the BJP-led NDA government over a media report which, citing Reserve Bank of India (RBI) data, stated that public sector banks had written-off over seven times the recovery amount in the last four years.
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Between April 2014 and April 2018, the country's 21 state-owned banks ended up writing off Rs 3,16,500 crore of loans even as they recovered Rs 44,900 crore written off on a cumulative basis or less than one-seventh the write-off amount, the report said.
The Congress president has often targeted the government over writing-of bad debts of industrialists and not of farmers. (PTI)