Reveal names of NPA defaulters: CPI asks govt

New Delhi: CPI on Thursday asked the government to reveal the names of defaulters, especially the corporate houses, responsible for a large chunk of about Rs 2.60 lakh crore worth of unpaid bank dues, instead of merely focussing on asking people to give up LPG subsidies.

"The Prime Minister should address the critical issue of non-performing assets (NPAs) which amount to almost Rs 2.60 lakh crore. This is not small money and the corporates and big business who account for a major chunk of it, are wilful defaulters as they are the ones who are actually getting the real subsidy," party National Secretary D Raja said.

"The list of NPA holders is known," he said.

He was commenting on Prime Minister Narendra Modi's statement asking banks and industrial houses to nudge their employees to give up subsidised LPG.

The CPI leader said the corporates and big business "are wilful defaulters who take huge loans and then go for one-time settlement and bargain with the banks. The PM should ask them to pay up."

Raja said Modi was "trying to make LPG subsidy a big issue. Why is the Prime Minister not speaking on the NPAs? Government should explain why it is not publishing the names of these defaulters or taking steps to collect the dues from corporates," he said.

It was only the bank unions like AIBEA, which publish the list of such defaulters, Raja added.

Observing that banks were nationalised to serve national interests and cater to the needy, Raja said the government on the other hand "wants to liquidate the public sector banks which will be detrimental to the interests of the Indian economy."