NPAs of Indian banks is Congress' making: Modi
New Delhi, July 20 : Prime Minister Narendra Modi on Friday accused the Congress of creating a large mess of NPAs in Indian banks and said that from during UPA rule from 2008 to 2014 the "underground loot of banks" was such that the amount of NPAs increased from Rs 18 lakh crore to Rs 52 lakh crore.
He said the loans were given to select industrialists during the previous UPA rule.
"I want to tell you about the NPA problem. Much before internet banking, the Congress invented phone banking and this caused the NPA mess. A phone call would get loans for their cronies and the nation suffered," Modi said in his replyg to the debate on the no confidence motion in the Lok Sabha.
"Our government decided that the banks should come out into the open with NPAs, and we also took some decisions that would help the country in long run."
He said for sixty years after independence, Rs 18 lakh crore was the total bank loan but between 2008 to 2014, this increased to Rs 52 lakh crores.
"The underground loot of banks went on from 2009 to 2014. So long as Congress was in power, the game of looting the nation continued.
"How did it happen? Internet banking came much later. But Congress is so intelligent that even before internet banking, phone banking started in India. Through phone banking, they increased NPAs to 52 lakh crore from 18 lakh crore," said Modi.
"What was the method? Loans were given on telephone. Loans after loans were given on telephone," he added.
The Prime Minister also said: "We started mechanism to reduce NPAs. UPA government took such decisions due too which there was increase in import of capital goods. It was done by reducing custom duties. The financing of these imports was done through bank loans."
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Change in name of state to Keralam, a joyful moment for Malayali brothers: PM Modi
Kochi (PTI): Prime Minister Narendra Modi on Wednesday said the change of name of the state from Kerala to Keralam by the Centre was a joyful moment for Malayali brothers.
The PM was speaking at the golden jubilee celebration of the Akhila Kerala Dheevara Sabha, an organisation that works for the welfare of the fishing community in the state.
In his inaugural address, Modi appreciated the role of the fishing community during the 2018 floods in Kerala, lauding their courage, service, and dedication at that time.
He also pointed out that the Dheevara Sabha has been working for fishermen's rights for 50 years.
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Modi said the Centre too has been working for the welfare of the fishing community and has carried out various initiatives to empower them.
He also said that the Union government has taken various measures, including installing over 4,500 satellite-based transponders in fishing boats, to ensure the safety of fishermen at sea.
Modi arrived at the Kochi international airport around 11.30 am and from there travelled by helicopter to the naval base here.
From there, he travelled by road to the Marine Drive for his first event of the day -- the golden jubilee celebrations of the Akhila Kerala Dheevara Sabha.
The PM arrived in poll-bound Kerala to take part in a series of programmes here, including the inauguration of the BJP-led NDA's election convention.
