India’s economy world's fastest growing: Sitharaman in attack on Oppn

New Delhi, Dec 5: Union Finance Minister Nirmala Sitharaman on Tuesday said the Opposition MPs raising questions on the government’s handling of non-performing assets (NPAs) should first recognise that India is now the world’s fastest-growing economy.

She also said that as of December 1, assets amounting to Rs 15,186.64 crore have been confiscated by the ED. During the discussion in Rajya Sabha, Sitharaman said, "...'Phone Banking' was at that time when people would call the banks and say 'so and so will come to seek a loan from your bank, please grant it', meaning that there's no need to look at their eligibility, etc., and that the loan must be granted."

She said that the heart of the problem was during the 10 years of UPA rule between 2004 and 2014 when "calls" were made to grant loans to people who weren't worthy of getting a loan.