New Delhi: The government on Tuesday said there is no proposal to make CBI the lead agency for investigating all major corporate loan default cases.
In reply to a question whether the government is considering a proposal to make CBI the lead agency for probing all major corporate loan default cases, Union Finance Minister Arun Jaitley in the Rajya Sabha said, "No Sir."
In a separate response, the Finance Minister said the government has issued advisory to all State Level Bankers' Committees to take immediate steps to mitigate the hardship of farmers in according with the guidelines issued by the RBI or the government in view of the recent unseasonal rains and hailstorms.
The Reserve Bank of India (RBI) has issued standing guidelines for relief measures to be provided by respective lending institutions in areas affected by natural calamities.
The relief measures include identification of beneficiaries, extending fresh loans and restructuring of
existing loans and moratorium etc, he said.
"The moment calamity is declared by the concerned district authorities, these guidelines have been so designed that they are automatically set in motion without any intervention and this saves precious time," he said.
In another reply, Jaitley said, the Department of Revenue has the highest amount of arrears of non-tax revenue to the tune of Rs 98,664.27 crore over a period of five years. It is followed by Department of Telecommunication with arrears of Rs 46,796.29 crore and Ministry of Home Affairs Rs 15,257.39 crore.
"While making estimates of non-tax revenue, instructions are issued to make a realistic assessment of interest due from Public Sector Undertakings and other loanees taking into account the need to ensure that the loanees fully discharge their current interest obligations," he said.
"Financial performances of PSUs is regularly reviewed to ensure that the amount due as dividend have been paid as per the procedure and extant guidelines," he added.
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