Modi blames Cong for bad-loan mess, claims every penny will be recovered

Agencies
September 1, 2018

New Delhi, Sept 1: Prime Minister Narendra Modi on September 1, 2018, blamed ‘phone-a-loan’ scam of the previous United Progressive Alliance (UPA) government for the bad loans in the banking sector and asserted that every penny given at the behest of ‘naamdars’ (dynasts) would be recovered.

Launching a payments bank of the postal department, Mr. Modi said that during the previous regime, the majority of bank funds were reserved only for the rich who were close to a particular family

Against ₹18 lakh crore loans given since Independence to 2008, the figure rose to an astronomical ₹ 52 lakh crore in six years thereafter, he noted.

“Loans were given on phone calls made by ‘naamdars’.” Banks lent crores of rupees to businessmen who were referred by the ‘naamdars’ in contravention of rules. “Knowing fully well that loans will not be paid back, banks lent money on orders of a family to a few.” And lenders were forced to restructure the debts when the borrowers defaulted, he alleged .

Mr. Modi charged the previous UPA government of hiding the extent of non-performing assets (NPAs) of banks. Since coming to power in 2014, the National Democratic Alliance government had analysed the enormity of the situation and asked banks to strictly recover dues.

‘Congress put economy on a landmine’

“The Congress had put the economy on a landmine,” he said. “Our government brought out the true picture of NPAs and the scam of the previous government.”

In the the last four years, all loans in excess of ₹50 crore have been reviewed and ensured that terms were strictly complied with. Twelve of the biggest loan defaulters have an outstanding of ₹1.75 lakh crore. Another 27 have ₹1 lakh crore. “We never gave any loans to any of the 12 big defaulters,” he said.

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News Network
May 14,2020

May 14: Customs officials on Wednesday intercepted China-bound consignments of raw material for masks, misdeclared as packing materials for pouches, in large quantities, a senior official said.

It has also seized multiple shipments containing 5.08 lakh masks, 57 litres of sanitiser and 952 PPE kits bound for the US, the UK and the UAE, the official said.

The export of such goods is prohibited by the government in the wake of the COVID-19 pandemic.

"On the basis of specific intelligence, 2,480 kg of raw material for masks was intercepted by air cargo export, Delhi Customs. The goods were misdeclared as packing materials for pouches and were being illegally attempted to be smuggled/ exported to China," he said. 

These goods are prohibited for export as per the latest guidelines issued by the Directorate General of Foreign trade (DGFT), he said, adding that investigation into the case is under progress.

In another catch, the air cargo officers intercepted multiple shipments containing 5.08 lakh masks, 57 litres of sanitiser in 950 bottles and 952 PPE kits at the courier terminal in New Delhi. These were attempted to be smuggled or exported out of the country, the official said.

"These goods are also prohibited for export," he added. 

These items were being illegally exported to the United States, United Kingdom and the United Arab Emirates. "No arrests have been made so far," the official said.

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News Network
July 22,2020

New Delhi, Jul 22: With a spike of 37,724 cases and 648 deaths reported in the last 24 hours, the total number of COVID-19 cases in India stands at 11,92,915, according to the Union Ministry of Health and Family Welfare.

The total number of cases includes 4,11,133 active cases, 7,53,050 cured/discharged/migrated and 28,732 deaths, the Health Ministry informed.

Maharashtra remains the worst affected state with 3,27,031 cases and 12,276 deaths.
The second worst-hit state, Tamil Nadu has reported 1,80,643 COVID-19 cases so far while Delhi has reported 1,25,096 cases, according to the Ministry.

Other states that have witnessed a higher number of COVID-19 positive cases include, Andhra Pradesh with 58,668 cases, Karnataka with 71,069 while Telangana has reported 47,705 COVID-19 positive cases.

Meanwhile, as per the information provided by the Indian Council of Medical Research (ICMR), the total number of samples tested up to July 21 is 1,47,24, 546 including 3,43,243 samples tested yesterday.

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News Network
April 19,2020

New Delhi, Apr 19: The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments.

Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20.

However, the reason for reversing the order is not known immediately.

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