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Banks' NPAs kept rising in the past due to lack of transparency: PM Modi

-Livemint.com

PM Modi said due to the lack of transparency in the country's banking sector earlier, various practices used to take place

Audit Diwas: Prime Minister Narendra Modi on Tuesday said that banks' NPAs kept increasing in the past due lack of a lack of transparency in the banking sector. He said due to the lack of transparency in the country's banking sector earlier, various practices used to take place. “As a result, banks' NPAs kept increasing," Prime Minister Modi said while speaking on the first Audit Diwas.

“You know very well the work done to brush the NPAs under the carpet earlier," he said with CAG (Comptroller and Auditor General of India) officials in the audience. 

“But we presented the reality of the previous governments, the actual situation, honestly before the nation. We will be able to find out a solution only if we identify the problems," he added. 

The prime minister further said that there was a time when the audit was seen with suspicion and fear, and the CAG vs government became a common mindset of system. 

CAG audits all receipts and expenditures of the central and state governments.

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