**- Prof. Gourav Vallabh

Modi Government Bank management means- total bank frauds of Rs. 5.35 lakh crore, which is Rs. 5.35 trillion, new gross NPAs of public sector banks from 2014-2021 are 4 times of gross NPAs from 2007-14 and bad loans written off are 25 times. This is in precise, what is the bank management strategy for the Modi government and the remedy for all these problems by Modi government. Single point solution for all these problems by Modi Ji is that let us sell the public sector banks to the ‘Hum Do, Humare Do’. The only solution that Modi Ji has to all these problems is to Sell off all the banks. What are the problems:

Frauds at Rs. 5.35 trillion, gross NPAs 4 times what was there during the last 7 years of UPA and bad loans written off are 25 times, what was there in the last 7 years of UPA. So, promise was there by Modi government to have a 5 trillion-dollar economy and reality is that the Modi government gave Rs. 5.35 trillion bank frauds to the banking industry.

We would like to ask Modi Ji that from ‘Humare Mehul Bhai to Sandesara, from Nirav Modi to Vijay Mallya’, all of them are relaxing at some exotic beach location, having crores of tax payer’s money as a fraud or borrowing from these banks. What is the government doing to get the tax payers’ money back? What is the government doing to get all these Bhagodas, all these fugitives to get back to India?

In last 7.5 years, means 7 years and 6 months, friends, total number of bank frauds in the banking industries, 47,000- 59 and banking industry had lost Rs. 5.35 trillion in the form of frauds to the banking industry. Total amount of frauds is 5 lakh, 35 thousand crores, which is equal to Rs. 5.35 trillion. New gross NPAs of public sector banks from 2014-21 are 4 times of gross NPAs from 2007-14. If I will give you the exact data between 2007- 14, the gross NPAs addition by public sector banks was 5 lakh 35 thousand crores, whereas from 2014-21, the addition in gross NPAs is 21,07,295 crores, which is 4 times of the gross NPAs addition by public sector banks from 2007-14. The loans which were written off between 2007-14, the total amount is Rs. 32,109 crores, whereas the total amount of loans which were written off from 2014-21 is Rs. 8,17,388 crores, means addition in gross NPAs is 4 times and the addition in the loans written off in 2014- 21 viz-a-viz 2007-14 is 25 times. In this context, we have 6 questions:

1. Why had our banking industry lost Rs. 5.35 trillion in the form of frauds in last 7 and half year? Under whose pressure the Know Your Customer, KYC norms were not adhered to by the banking industry and the banking industry had suffered this particular loss? This is our question number one.
2. Why are the gross NPAs of public sector banks from 2014-21 4 times of 2007-14? What is the reason? Why is Modi Sarkar silent? Modi Ji used to talk a lot about the NPAs, but, the NPAs in last 7 years are 4 times of NPAs in the last 7 years of UPA? Why is Modi Ji silent on that?
3. Why are the big loans written off by public sector banks from 2014-21 25 times of 2007-14? Why is the same facility of loans written off not available to middle income group? Why is the same facility of loans written off not available to the personal loans of the middle class, to the farm loans of the farmers? Why is this facility not extended to them?
4. Why is Modi government systematically killing the banking industry in general and public sector banks in particular? Why is the Government killing the banking industry because when you have frauds to the extent of 5,35,000 crores, when you have NPAs, which were increased by 4 times, when you have loans written off increased by 25 times? Why are you killing?
5. Who will pull defaulters and fugitives like Mehul Choksi, Nirav Modi, Sandesara, Vijay Mallya, who are relaxing at some exotic beach location? Why is not government bringing them back to India and recover the dues of public sector banks from them? After all, the money, which they have is the tax payers’ money; is the money which is given to the government by an obedient and I can say disciplined middle income group society, by the farmers of our country, why is the governed silent on that?
6. And last but not the least, when Smt. Indira Gandhi Ji had nationalized the banks to implement the inclusive banking in our country, why Modi government, instead of hand holding the public sector banks in the form of higher capital support, higher technology support is trying to have a single point solution for all the banking related problem i.e. ‘Bech De’. Whatever is the problem to the banking industry, there is only one solution by the government that is ‘Sell the public sector banks.’ These are our 6 questions and demands. We want answers of these 6 questions. I hope, the Prime Minister is going to answer these 6 questions because after 6 days, the Annual Budget of our country is going to be presented and whatever data of 4 times, 5.35 lakh crores of frauds, 25 times increase in the loans written off, all these data, I am going to give you year-by-year comparison in the press release and all the sources of data is the Reserve Bank of India’s annual report on reports and trends in the banking industry. I had compiled all this data from last 14 years annual reports, research on RBI’s trends on banking industry.

Based on Press briefing on January 25, 2022

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