Vijay Mallya’s loan not waived, clarifies Jaitley

New Delhi: Finance Minister Arun Jaitley today said that a write-off doesn’t necessarily mean that the bank was not going to pursue the bad debt. During debate on demonetization in the Rajya Sabha today, he said the NDA government had inherited a legacy of bad loans. “Bad loans write-off doesn’t mean we won’t pursue it,” he clarified.

He was replying to a question raised by CPM general secretary Sitaram Yechury, who said during his speech that “big crocodiles” are surviving whereas “small fish” are dying, but the Government was not catching big fish. Mr. Yechury gave the reference of some businessmen who escaped the country all of sudden after taking huge loans. (UNI)