December 14, 2021
Sukhendu Sekhar Ray makes Zero Hour mention on the alleged cartelisation in private banks buying PSBs after the Govt’s clearing of a large amount of their NPAs
FULL TRANSCRIPT
Sir,
I would like to raise a matter of public importance. So far as the public sector banks are concerned, it appears that huge corporate bad loans have been resolved with heavy haircuts and losses to the banks. For example, in 13 accounts of corporates in public sector banks, the total loan due was Rs. 4,46,800 crore, which was resolved and settled at Rs. 1,61,820 crore, resulting in the banks suffering losses to the extent of Rs. 2,84,980 crore. So the total haircut was 64 per cent. In this way, public sector banks have suffered huge losses, and a 64 per cent haircut has been allowed to the loaning companies. On the issue of the new companies that have purchased these banks, the question of cartelisation cannot be ruled out.
Therefore, Sir, through you, I would urge the Government to institute a commission of enquiry to find out whether there was any cartelisation, keeping in view the huge losses suffered by the public sector banks, whose money is essentially public money.
Thank you, Sir.
