Minister of State of Finance, Santosh Kumar Gangwar told the Rajya Sabha yesterday that the top corporate groups in India owe the Public Sector Banks Rs. 5,73,682 crore, the loans taken and not returned. The total NPAs or bad loans by the corporates will come to lakhs of crores of rupees.
This is a clear case of politician-corporates-bank management conspiracy taking away the savings of the people of the country for the benefit of the corporates. Very strong action is required to recover this money.