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Over RS 78,000 cr bank frauds under modi government says Congress. 

Congress on Thursday launched a scathing attack on narendramodi government for leading india into “financial anarchy “with its “utter economic mismanagment ” that has led to bank frauds over RS 78,000 crore and now forcing LIC to buy the sinking IDBI bank tie hide its failures.
Post the numerous bank loot scans that have plunged the banking sector in deep crises one more mega scam worth RS 6,900 crore has been uncovered taking the total value of 15 banks loot scams to RS 70,014 crore said congress spokesperson Randeep Singh surjewala.
He alleged that the Faridabad based SRS group a diversified company engaged in criminal conspiracy cheating and frauds of RS 6,978.74 crore reportedly using hundreds of shell companies defrauding 19 banks i t also laundered money and deeper thousands of home buyers.
Citing Indian banks Q4 losses for 2017-18 that touched an astronomical RS 90,000 crore surjewala said modi govt’s financial anarchy continues unabated as the NPAS which we’re RS 2,64,000 crore in fiscal 2015-16 is now hovering Around RS 11,40,000 crore.
IDBI bank is the worst performing public sector banking whose Q4 losses have swollen to RS 6,763 crore and gross NPA has risen to a whopping RS 66,577.28 crore, he said and added the bank has a bad loan ratio of close to 29 percent.
Utter economic mismanagment of modi government and its finance ministry is write large to cover up its mess, it is now jeopardizing the hard earned money of 40 crore LIC policy holders by forcing it to purchase the rapidly sinking IDBI Bank.
“Its a classic case of selling family silver of 40 crore LIC policy holders to hide the economic may hem of failed modinomics – jaitleynomics he said.
Surjewala said the prime ministers office, finance ministry the reserve bank of india the central vigilance commission the central bureau of investigation the securities and exchange board of india the serious fraud investigation office the enforcement directorate the corporate affairs ministry /the registrar of companies and the BJP government in Haryana are completely silent even after a series of complaints filed against the SRS group as early as August 2017.
Thousand of people have been duped in the name of public deposits received by SRS ltd, he said claiming that re payments of about RS 95 crore have been denied depite various order from National company law tribunal.
Surjewala said thousands of people have also been duped in the name of booking flats, homes plots, floors and others deposits with as much as 90 present advance as payments but no delivery of the said land or flats allotments was done to the investors in these projects.
In one of the glaring examples the bank has served notices to 1,400 flats owners in SRS royal hills sector 89 Faridabad to vacate the flats to recover the loan, he said adding that the residents had been staying for years without even a registry..

Reported by
Keerthana . jR

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