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


Team Udayavani, Feb 1, 2019, 7:04 AM IST

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. 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

BCCI vs PCB spar on CT venue as Naqvi denies receiving any official note from Indian board

After Yogi’s ‘batenge, katenge’ slogan, PM pitches for unity with ‘Ek hai, toh safe hai’ message

“Coming soon.. 2025”: KL Rahul and Athiya Shetty announce first pregnancy

Mangaluru: Unauthorized bus stops at signals fuel traffic woes and safety concerns

SC notice to Karnataka, DK Shivakumar on CBI plea against withdrawal of consent by state govt

Will remain active in politics till my last breath: JD(S) patriarch & ex-PM Deve Gowda

BJP calls Congress govt ‘laughing stock’ as ‘samosa politics’ heats up in Himachal

Related Articles More

UP women’s body proposes men shouldn’t tailor women’s clothes or cut their hair

After Yogi’s ‘batenge, katenge’ slogan, PM pitches for unity with ‘Ek hai, toh safe hai’ message

Bank fraud: ED seizes jewellery, cash worth over Rs 1 cr in raids against Bhopal-based company, directors

No greater feeling than serving those in need: Outgoing CJI D Y Chandrachud

CJI Chandrachud: A legacy of landmark verdicts that shaped society and some controversy too

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

BCCI vs PCB spar on CT venue as Naqvi denies receiving any official note from Indian board

Use Carnatic music to promote Kannada language: Nirmala Sitharaman

Udupi: Car collides with bike; Rider injured

UP women’s body proposes men shouldn’t tailor women’s clothes or cut their hair

NSE, BSE to be closed on Nov 20 for Maharashtra assembly polls

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.