New Delhi: The Congress on Wednesday (September 4) alleged that data revealed by the All India Bank Employees Association (AIBEA) indicates that public sector banks took a 74% “hair cut” on their outstanding dues in the case of 10 financially stressed companies after they were taken over by the Adani Group.
Congress general secretary Jairam Ramesh said that AIBEA data revealed banks that had claims of Rs. 62,000 crore from 10 companies which were under financial stress were made to settle their loans for only Rs. 16,000 crore after the Adani Group bought these companies, reported The Hindu.
“The All India Bank Employees Association has revealed, through publicly available data, how public sector banks that had claims of about Rs 62,000 crores from 10 financially stressed companies have been made to settle for just Rs 16,000 crores after the non-biological PM’s favourite business group took over these 10 companies. In the colourful language of finance, this is a 74% ‘haircut’ taken by the banks,” Ramesh posted on X.
The All India Bank Employees Association has revealed, through publicly available data, how public sector banks that had claims of about Rs 62,000 crores from 10 financially stressed companies have been made to settle for just Rs 16,000 crores after the non-biological PM’s… pic.twitter.com/OIMtQmPrQS
— Jairam Ramesh (@Jairam_Ramesh) September 4, 2024
The Congress has been constantly attacking the BJP-led NDA government in Centre over the allegations against the Adani group. The party has also highlighted the need for a Joint Parliamentary Committee (JPC) probe over Hindenburg Research’s allegations against the Adani Group.
