Amid the uproar by the Opposition over second batch of Supplementary Demands for Grants which was approved by the Lok Sabha, Finance Minister Nirmala Sitharaman on Monday said that banks have recovered Rs 13,109.17 crore from asset sale of fugitives like Vijay Mallya, Nirav Modi and Mehul Choksi.
The latest recovery was Rs 792 crore from the sale of assets belonging to Mallya and others on July 16, 2021, she added. The government had sought Parliamentary clearance to spend an additional Rs 3.74 lakh crore during the current fiscal. It involves a higher-than-expected net cash outgo of Rs 2.99 lakh crore.
“Public sector banks together have effected a recovery of about Rs 5.49 lakh crore over the last seven financial years. So, these people who are defaulters, who have fled the country, we have got their money back and put it to the public sector banks and therefore the banks are safer today,” she said. She further said that the depositors’ money are safer in public sector banks.