Published: Tue, March 06, 2018
Worldwide | By Gretchen Simon

BJP attacks Congress over NPAs of banks

BJP attacks Congress over NPAs of banks

Dragging former finance minister P Chidambaram into the financial scandal involving jeweler Mehul Choksi, Union Minister Ravi Shankar Prasad on Monday said the "80:20 gold scheme" was introduced by the erstwhile government to hep Choksi "convert his black money into white" by round tripping.

"Under the so called economist then Prime Minister Manmohan Singh, the entire banking system went haywire due to all kinds of interference with it", he said during a press conference. "He should reply who were those persons who were lobbying for those companies and also what was the cut?" he added.Meanwhile, sources told Express that finance ministry officials will share all details related to the 80:20 gold import scheme with Parliament's Public Accounts Committee.Prasad also alleged that advances (to banks) rose during the UPA regime but were not recorded in the books.

However, it was Chidambaram who was the main target of the ruling party. The BJP referred to a specific policy decision that allowed government and private companies to import gold from overseas under a "80:20" scheme, a few days before the 2014 election result. On May 16, the Manmohan Singh government is losing, P Chidambarams chair is in danger. "Chidambaram and Rahul Gandhi must answer why this scheme was passed on the day of results to benefit these seven private companies. Is it corruption or jumla (rhetoric)?" asked Mr Prasad.

They want true picture of Chidambram to appear before the country, Prasad, said and also sought to target the Congress top brass as he claimed that the then finance minister was doing so with "blessings" of others.

"On 16 May 2014 when UPA govt had lost the general elections, the outgoing FM P. Chidambaram cleared 80-20 benefit to Mehul Choksi's company, Geetanjali Gems. Mr. Chidambaram, please reply is it jumla, blatant favoritism, malafide conduct or rampant corruption?"

Four 49ers takeaways from National Football League combine workouts Monday
The event will be televised live by ESPN, ESPN2 and the NFL Network. "Area scouts are locked into specific players in their areas. Players run a 40-yard dash, bench press and show off the individual skills they've developed over the years.

Prasad said that stressed assets of banks were pegged at 36 per cent in March 2014 but these subsequently rose to 82 per cent.

He cited a recent case of fraud registered by the CBI against a son-in-law of Punjab chief minister and Congress leader Amarinder Singh and described it as a "textbook case" in this regard. Today the worst critic of Aadhaar is the Congress. "For the last four years, the Congress has been indulging in a politics of confusion, fear and concoction against the BJP and its government", Prasad said.

The Bharatiya Janata Party (BJP) on Monday said not a single loan given under Prime Minister Narendra Modi's rule has become a non-performing asset (NPA).

This is unedited, unformatted feed from the Press Trust of India wire.

Like this: