Ahmed Patel slams Modi government over reducing ONGC’s Cash Reserves

ahmed patel
File Photo Ahmed Patel

New Delhi, June 13 : Senior Congress leader Ahmed Patel in a series of tweets attacked Narendra Modi Government for emptying State-owned explorer Oil and Natural Gas Corporation’s cash reserves from Rs 13,000 cr to under Rs 1,000 cr in four years.

He also slammed Narendra Modi government for diluting RBI’s NPA circular of Feb 2018 & protect big defaulters by attempting to dilute some of its contentious provisions.

The Congress leader stated that for 60 years ONGC was the jewel amongst PSU’s but Narendra Modi government used it to hide its own blunders.

 

The Reserve Bank of India’s February 12 circular on non-performing loans has stirred a hornet’s nest. Banks, India Inc and even the Modi government are opposed to it and demand for dilution of some of its contentious provisions.

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