• News
  • Movies
  • Money
  • Health
  • Videos
More
Hero Hero
  • MONEY
  • Money News
  • Stock Market
  • New Products

Rs 3 lakh cr recovered from big corporate loan defaulters: FM

Presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said, "We have stopped culture of phone banking".

Feb 1, 2019, 11:59 AM IST
T- T T+
fm
X
×

New Delhi: Finance Minister Piyush Goyal Friday said Rs 3 lakh crore have been recovered from big corporate loan defaulters.

Presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said, "We have stopped culture of phone banking".

He was referring to allegations of giving of "rampant loans over phone" during the UPA regime.

Goyal, stepped in as interim finance minister after Arun Jaitley had to fly to New York for medical treatment, further said Bank of India, Oriental Bank of Commerce and Bank of Maharashtra have been removed from the PCA (prompt corrective action) framework of the RBI.

"I hope other banks too would soon come out of PCA framework," he said.

The finance minister also said, "Our government had the guts to ask RBI to look at bad loans and present correct picture to nation".

He said the Insolvency and Bankruptcy Code was helping in recovery of non-performing loans.

"Even big businessmen are now worried about loans," Goyal said.

PTI

PRINT
EMAIL
COMMENT
 

Related Articles

Defensive strokes, dropped catches, no balls in Budget: Shashi Tharoor
News |
News |
Union Budget ignored Kerala; CPM to observe July 9 as protest day
News |
Modi says budget will empower downtrodden, Cong slams it as insipid
News |
Union Budget completely disappointing for Kerala: Thomas Isaac
 
 
  • Tags :
    • Union Budget 2019
    • Rs 3 lakh cr recovered
    • big corporate loan defaulters
More from this section
GST
GST compensation shortfall released to states touches Rs 1 lakh crore
money
Unified system for license fees provides huge relief for entrepreneurs
Google
Google to give Rs 109 crore to support SMBs in India
fuel price
Fuel prices skyrocket for 11th consecutive day
KFC
KFC to issue Debit Card
News in Videos
News+ Kerala India NRI World Columns Features Offbeat Good News Crime
Leisure Movies & Music Sports Travel Books
Learn Money Education Agriculture
Lifestyle Health Tech Food Astrology
Multimedia Gallery Videos Mojo News News In Pics
Our Network Malayalam Print Mathrubhumi News TV Kappa TV Club FM Seed Silver Bullet FindHome Media School MBIFL Redmic
E-Paper
Subscription
Buy Books
Magazines
Classifieds
Archives
 
  • E-Paper
  • Subscription
  • Buy Books
  • Magazines
  • Classifieds
  • Archives
© Copyright Mathrubhumi 2021. All rights reserved.
About Us Contact Us Privacy Policy
Terms of Use Archives
Ad Tariff Download App Classifieds
Buy Books Subscription e-Subscription
 
         
© Copyright Mathrubhumi 2021. All rights reserved.