Finance Minister Nirmala Sitharaman has asked Congress party to introspect and stop misleading people over wilful defaulters list. She said, even being in the opposition, Congress has failed to play constructive role in cleaning up of the system and show any inclination to stop corruption and cronyism. Ms. Sitharaman in a series of tweets informed that government has formed nine thousand nine hundred sixty seven recovery units which are following up the cases of the wilful defaulters in the country.
Responding to Congress Leader Rahul Gandhi, Finance Minister Nirmala Sitharaman in a detailed response stated that during 2009-10 and 2013-14 scheduled commercial banks wrote off more than one lakh forty five thousand crore rupees. She quoted former RBI governor Raghuram Rajan who while interacting with media in 2018 had said that a large number of bad loans originated in the period between 2006 to 2008.
Finance Minister said that the current government has initiated investigation into wilful defaulters cases and more than 3500 FIRs have already been registered in such cases. She informed that the government has been able to recover over 18,332 crore rupees by attachments and seizures in cases of Vijay Mallya, Nirav Modi and Mehul Choksi .
Ms. Sitharaman also said that the strong action of the current goverment has ensured that those guilty be brought to books resulting in extradition related proceedings for Choksi and Mallya , while Nirav Modi is already facing imprisonment in the UK.