As per the reply given in the Parliament by Minister of State
for Finance, Jayant Sinha, the NPA( Non-Performing Assets)or the bad loans of
the Public Sector Banks have reached Rs. 2.67 lakh crore by the end of March
2015. Last year it was Rs. 2.16 lakh crore.
The interesting fact is that these bad loans are mostly loans
taken by the big corporate and business houses and have not been repaid. Due to
their influence on the government and political parties, strong action is not
taken for recovery.
At the same time, extra-special efforts are being made to
recover from the common people and legal action is taken. But not in the case
of big guns. Even if some action is taken, they defend it with Senior
Advocates, who manages to stop and delay action.
The Bank Unions have been demanding for the recovery of these
bad loans from the big business and corporates, but without results.
In
India, big guns are always above the law of the land.
VAN