Shehzad Poonawala of BJP slams AAP Chief Arvind Kejriwal for making false claims

August 12, 2022

Delhi: The National Spokesperson of the Bhartiya Janta Party (BJP), Shehzad Poonawala, slammed the Chief of the Aam Aadmi Party, Arvind Kejriwal for his behavior on Twitter today, calling him a Pinocchio of the Indian political scene.

“Despite being fact-checked on his lies about the ₹10L cr loan “waiver”, his lies on the 8th pay commission, devolution of funds & Corporate tax he is allowed to get away & escape questions on the Corruption of Satyendra Jain & Liquor scam,” Shezad tweeted.

In a series of tweets, Shezad targeted the oppostion and said, “Despite numerous attempts to explain basic concepts to AAP & Congress they do not seem to understand. AAP is attempting to mislead people in a brazen manner – loan write-offs are not the same as loan waivers”

Explaining the Write-offs, Shezad wrote that Writing off bank loans is prudential accounting treatment and is done when 100% provisions are made against losses in a time-bound manner. It takes place as per RBI guidelines approved by bank Boards – banks continue to pursue recovery action against such borrowers.

He stated the fact that “As a result of concerted recovery efforts, banks have recovered over Rs 8.6 lakh crore bad loans in the last eight years on account of strong measures initiated by the government and the Reserve Bank. Clearly, there is no LOAN MAAFI!”

RBI data also shows that not only has the amount written off by PSBs fallen since 2018-19, but the amount recovered from written-off accounts has also increased over that period. The Gross NPA ratio of PSBs has fallen over time, from 14.6% as of March 31, 2018, to 7.4% as of March 31, 2022.

Today, the Occurrence of fraud as a proportion of the gross advances of PSBs, from a peak of 1.32 percent during the financial years 2013-14 to 0.05 percent during the financial year 2021-22.

Former Governor of RBI Raghuram Rajan, who was appointed by the UPA, pointed out the banking malpractices of the UPA: “A large number of bad loans originated in the period 2006-2008… Too many loans were made to well-connected promoters with a history of defaulting,” Shehzad tweeted quoting the former governor.

Questioning Kejriwal’s silence on his plan to sack Satyendra Jain and Manish Sisodia and other scams pointed out by CAG reports Poonawala said that since Arvind has no answers he deflects & the media indulges him.

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