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Rajan indicted Modi on NPAs as he devised ‘wink-a-loan-scam’: Congress

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New Delhi, Sep 11 (IANS) Stating that Prime Minister Narendra Modi devised a ‘wink-a-loan-scam’ referring to the bad loans, Congress on Tuesday said former RBI Governor Raghuram Rajan indicted the Prime Minister and his office on the frauds being committed in the banking sector.

Congress was replying to Modi’s allegation that “phone-a-loan” scam of the UPA government resulted in bad loans in the banking sector.

Congress spokesperson Randeep Singh Surjewala said Modi devised a new formula called ‘Wink-a-Loan-Scam’.

A larger number of bad loans or NPAs originated in 2006-2008 when Indian economic growth was strong as the banks made mistakes, former RBI Governor Raghuram Rajan has said.

He said that global slowdown, project cost overruns and government decision-making were among the factors that contributed to the process.

On Raghuram Rajan saying that UPA was the cause of bad debts, Surjewala said: “I think you are misreading his report. Let me now place two or three facts again in public domain for your kind consideration.”

“When UPA demitted office, the NPA was Rs 2,83,000 crore, very much in the controllable situation. There were in total only Rs 2,83,000 crore on May 26, 2014. How much are the bad loans today?” asked Surjewala.

In a reply in the Parliament up to March 2018, the government said they have gone up to Rs. 10,30,000 and today they have reached Rs. 12 lakh crore.

“Therefore, Rs. 9,17,000 crore are the bad loans generated in 52 months of Modi government,” he added.

Congress party said Raghuram Rajan had set up a Fraud Monitoring Cell when he was the RBI Governor to coordinate with the early reporting of fraud cases to the investigating agencies.

The party said Rajan had sent a list of high-profile cases to the PMO urging him to taking action against some.

“Raghuram Rajan indicted the Prime Minister and Prime Minister’s Office (PMO) on the fraud being committed and fraudsters who were escaping. He sent a big list of all the fraudsters who were to escape the country, but the Prime Minister’s Office did not take any action” said Congress spokesperson Randeep Singh Surjewala.

“Rajan had also sent the name of Nirav Modi, Mehul Choksi in the list according to our information,” he added.

Surjewala said this government was so arrogant that even on Tuesday it raised the prices of petrol and diesel. “So, if anybody is responsible, it is the current prime minister. For Rs. 2,83,000 crore hold Congress government responsible but for Rs. 9,17,000 crore in 52 months, will you hold PM Modi accountable?

“This NPA is a result of all the loaning and also the decimation of economy on account of the faltering economic policy. I think whether or not that issue (phone-a-loan-scam) was a figment of his imagination but ‘Wink-a-Loan’ is definitely true for Modiji,” surjewala added.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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