Thread by @muglikar_

Thread on Congress treachery
1. Gross loans of Public sector banks increased from Rs. 18,19,074 crore as on 31.3.2008 to Rs. 52,15,920 crore as on 31.3.2014.

2. During this time machine manufacturers got loans to setup hotels and hotel owners got loans to setup airports

3. It was golden period for take a loan mela based on exaggerated project reports, divery funds buy yachts and villas in foreign locations, call them co guest house and chill with your friends etc.

4. Ppl have done the above and any person with slight touch with banking will tel

5. There were various "schemes" officially under RBI rules which could be used to "roll over" loans so that they are not declared "bad".

6. Eg in simple terms: if you are not able to pay EMI, imagine the bank giving you further loan to pay up interest. Or changing term itself

7. These schemes were given fancy names as well. In came Modi. First step was to start something called as an Asset Quality Review Board.

8. Intent was to identify bad loans. Not hide stuff which is sick. Imagine a patient is unwell and doctor keeps saying you are fine. Good?

9. When asset quality was reviewed following happened

NPA's rose from
Rs. 2,27,264 crore as on
31.3.2014
Rs. 2,79,016 crore as on 31.3.2015
Rs. 5,39,968 crore as on 31.3.2016
Rs. 6,84,732 crore as on 31.3.2017, Rs. 8,95,601 crore as on 31.3.2018

10. Thugs in media & opposition these days use these numbers to abuse Modi saying NPA's rose during his tenure. Firstly, a loan went bad because UPA sarkar gave money to undeserving ppl.

Will you abuse a doctor who found the problem and cures it? Same. Logic. But neway

11. Current laws were inadequate hence govt brought in Insolvency code which I have explained via various articles and videos to all of you.

12. Once the NPA's are identified, the recovery process starts. We know what kind of judicial system we have. Every step is slow.

13. Hence NCLT was crucial & game changer. Stuff started moving fast and we have seen how promoters are begging with banks to accept money and let them go. All due to IBC.

14. Within this comes an issue called loan write off & waiver. I will explain waiver first for dumb pidis

15. NO BANK CAN GIVE waiver. Farm loan waiver means govt says loans upto XYZ amount are waived and WE WILL REPAY the amount on behalf of farmer.

16. The bank gets the money in this case too. Just that it's from the government & not the farmer who took the loan.

17. Write off means not a waiver. When a bad loan is declared, bank has to "provision" certain amount as a bad debt considering it may not be recovered. Once this is done, the bank writes off the amount from the balance sheet to achieve betr tax mgmt, capital ratio etc.

Does it mean the bank does nt work towards recovery? One has to be extremely dumb to think that ways.

Once the NPA's were declared banks started write off too. The nos:
PSBs wrote-off
Rs. 57,585 crore (15-16)
Rs. 81,683 crore (16-17)
Rs. 1,28,229 crore (17-18)

Indian Express and 100s of Pidi's keep saying this amount is highest in xyz yrs etc etc. Obviously. Because the loans were given away like never before, the NPA's were detected like never before hence the write off are like never before.

Base issue is loans to cronies by UPA.

It was not the time to whine. Govt kept working and setup tribunals across the nation. Stood firm in front of big industrialists and the results are showing. PSBs successfully recovered an amount of Rs. 3,60,000 crore of the NPA's. It's done.

5.5lac cr approx recovery is to be done. NCLT is looking at 12 cases which had outstanding amount of Rs.
1,97,769 cr and 29 had outstanding amount of
Rs. 1,35,846 cr

Approx 3.5lac cr will further be recovered very soon and the biggest issue of NPA will be done with.

Every penny which was '' written off"or otherwise is being brought back. So when thugs like @RahulGandhi whine and spread lies, it is because his friends are getting trolled in courts and made to cough up funds.

Use this thread to fight every fake news. I know it's long. Thx