As per the reply given in the Parliament by Minister of State for Finance, Jayant Sinha, the NPA( Non-Performing Assets)or the bad loans of the Public Sector Banks have reached Rs. 2.67 lakh crore by the end of March 2015. Last year it was Rs. 2.16 lakh crore.
The interesting fact is that these bad loans are mostly loans taken by the big corporate and business houses and have not been repaid. Due to their influence on the government and political parties, strong action is not taken for recovery.
At the same time, extra-special efforts are being made to recover from the common people and legal action is taken. But not in the case of big guns. Even if some action is taken, they defend it with Senior Advocates, who manages to stop and delay action.
The Bank Unions have been demanding for the recovery of these bad loans from the big business and corporates, but without results.
In India, big guns are always above the law of the land.