New Delhi: CPI-M General Secretary Sitaram Yechury today stated that the unpaid loans owed by private companies to the nationalised banks was a scam “10 times bigger” than the 2G spectrum scandal. And further went
“More than Rs 11 lakh crore has been borrowed by Indian corporates form nationalised banks which they did not repay. Not only the government did not do anything to recover them, but waived off Rs 1.12 lakh crore owed by the corporates in the last two years.
“It is a humongous scam. A scam 10 times bigger than the 2G spectrum,” the Communist Party of India-Marxist leader said on social networking sites Twitter and Facebook.
“When you ask to waive off the loans of the farmers who are committing suicide due to distress, the government is unwilling to do so, saying it does not have enough resources, but (it) can waive off corporate loans to the extent of Rs 1.12 lakh crore.”