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It has always been known that almost all the major corporates have not returned thousands of crores of rupees they have taken as loan from the banks. These are treated as Non-Performing Assets (NPA) and written off later. The hard earned money of the people were being looted by these corporate houses.
Now, senior BJP leader and former Communications Minister Arun Shourie has stated that one Corporate House in India owned Rs. 1,22,000 crore and another Rs. 58,000 crore to the banks, which they have taken as loan! This will be true. In the same way, there will be thousands of corporate houses, which have been cheating the banks.
Why the government and the Bank Managements are sitting as silent spectator? They should act immediately and take necessary strong action to get back the amounts to the Banks, which are mainly the PSUs.