📷 Image: Wikimedia Commons / Ministry of Finance of India
Politics
Finance Minister Sitharaman Blames UPA for Bad Loans in PSBs
✍️ News18
🗓 15 Oct 2026, 05:18 AM
👁 17
Finance Minister Nirmala Sitharaman accused the former UPA government of causing bad loans in public sector banks and rebuked Akhilesh Yadav for the same.
Finance Minister Nirmala Sitharaman, speaking at a press conference on Tuesday, blamed the United Progressive Alliance (UPA) for the surge of non‑performing loans in public sector banks (PSBs). She said the “India Alliance ruined PSBs” and highlighted the impact of the bad loans on the banking sector’s stability.
Sitharaman also took aim at Akhilesh Yadav, the former chief minister of Uttar Pradesh, accusing him of contributing to the problem. She stated that the policies implemented during the UPA era led to a rise in bad loans, which have now become a major concern for the government.
The remarks come as the government continues to grapple with the high levels of non‑performing assets in PSBs. Analysts say the minister’s comments could intensify scrutiny of past administrations and influence upcoming reforms in the banking sector.
Sitharaman also took aim at Akhilesh Yadav, the former chief minister of Uttar Pradesh, accusing him of contributing to the problem. She stated that the policies implemented during the UPA era led to a rise in bad loans, which have now become a major concern for the government.
The remarks come as the government continues to grapple with the high levels of non‑performing assets in PSBs. Analysts say the minister’s comments could intensify scrutiny of past administrations and influence upcoming reforms in the banking sector.