Pending since 1977, Karnataka yet to recover old loans worth over ₹10,000 crore: CAG

According to the CAG report, the 21 loanee entities have arrears of ₹15,856 crore, which includes principal of ₹9,380 crore.

ByPTI

Published Feb 14, 2024 | 8:41 AMUpdatedFeb 14, 2024 | 8:41 AM

The Vidhana Soudha in Bengaluru.

The Comptroller & Auditor General (CAG) has found that the Karnataka government has not recovered old loans amounting to over ₹10,000 crore given to various entities, including a number of its departments or undertakings.

It said some loans are pending since 1977.

The CAG report on Finance Accounts 2022-23 was tabled in the Assembly on Tuesday, 13 February.

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“In respect of old loans amounting to ₹10,389.78 crore involving eight departments (21 loanee entities), recoveries of principal have not been effected during the past several years, which includes loans pending since the year 1977,” the CAG said.

According to the CAG report, the 21 loanee entities have arrears of ₹15,856 crore, which includes principal of ₹9,380 crore.

The oldest arrears are from 1977, given to Bangalore Water Supply and Sewage Board (BWSSB) and Karnataka State Seeds Corporation Ltd.

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