2.4 Lakh Crore Loan Write Off By Banks: No Accountability For Tax Payers' Money?
The big bank mess - the government tells parliament that 2.4 lakh crores have been written off by public sector banks in the last three years. As Mamata Banerjee goes after the centre at a time when farmers are committing suicide over loan defaults, where is the accountability for tax payers' money? A loan write off is not a loan waiver, so technically money is still owed to the banks, but how much do they actually end up recovering? Is the banking system in a complete mess?
