Flagging a report by The Indian Categorical on an increase in gold mortgage defaults, the Congress Thursday referred to as the Union authorities the primary one in Impartial India to “steal mangalsutras”.
The Indian Categorical had on December 31 reported that gold mortgage non-performing property (NPAs) of banks and non-banking finance corporations (NBFCs) had risen 30 per cent to Rs 6,696 crore as of June 2024, from Rs 5,149 crore simply three months in the past. Citing these figures from the report, Congress communications in-charge and MP Jairam Ramesh mentioned Thursday: “These are simply the formal sector gold loans – there’s no estimate of what number of households have taken recourse to the casual sector.”
“At a time when the non-biological PM was scaremongering about some imagined plot to steal Mangalsutras, we had raised the difficulty of the fast rise in gold loans throughout his tenure. An estimated Rs. 3 lakh crores in gold loans have been taken out by Indian households and are excellent as of as we speak….” mentioned Ramesh on X.
“When households default on these loans, they usually lose the underlying gold asset – typically, the girl’s jewellery, together with the mangalsutra,” he mentioned. “The Modi Authorities’s rampant cronyism, erratic policymaking, and warped priorities have earned it the doubtful distinction of being the one Authorities within the historical past of Impartial India to steal mangalsutras from girls.”
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