Banking system in tatters as wilful defaulters doubled in last five years: Congress

'At the time when Modi government is leaving, the wilful default amount stands at Rs 1,21,700 crore,' the Randeep Singh Surjewala said.
Congress Spokesperson Randeep Singh Surjewala (File Photo | EPS)
Congress Spokesperson Randeep Singh Surjewala (File Photo | EPS)

NEW DELHI: The Congress on Friday said the banking system was in tatters as the number of wilful defaulters had doubled during the last five years of the Narendra Modi government.

Calling the government a "suit-boot aur loot ki sarkar", Congress spokesperson Randeep Singh Surjewala said in a tweet, "The banking system is in tatters. Wilful defaulters have doubled in five years. 5090 creditors have increased to 11000 creditors." He also claimed that wilful defaults had increased by 308 per cent in terms of value.

"At the time when Modi government is leaving, the wilful default amount stands at Rs 1,21,700 crore," the Congress leader said.

On April 28, the opposition party had demanded that the BJP-led government direct the Reserve Bank of India (RBI) to disclose the list of wilful loan defaulters, alleging that it was not doing so to protect its "crony capitalist friends".

It had also raised questions as to why the Centre was not issuing a one-line directive to the RBI to disclose the information contained in the annual inspection report of banks.

The remarks of the Congress had come after the Supreme Court on April 26 gave the banking regulator "a last opportunity" to reveal these details under the Right to Information (RTI) Act.

The top court had made it clear that the RBI was "duty-bound to furnish all information relating to inspection reports and other material" under the RTI Act, 2005, except those which pertained to "matters of national economic interest".

On December 16, 2015, the Supreme Court had asked the RBI to disclose such information under the RTI Act. However, the regulator did not do so.

Therefore, on April 26, the apex court said the RBI was in "contempt of this court by exempting disclosure" of such information.

However, it granted the RBI "a last opportunity" to rectify it.

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