New Delhi, May 31 (IANS): The Congress on Monday alleged that bank fraud to the tune of Rs 5 trillion, equal to Rs 4,98,677 crore, has been committed during the NDA government. The Congress has accused the government of weakening the banking system.

Addressing a press conference Gourav Vallabh asked three questions from the government, "Why has the government failed to curb the bank frauds in the last 7 years? What is the government doing to recover the amount involved in these bank frauds? How much amount has been collected from these fraudsters who are weakening our banking system?"

He said the Modi government has weakened the banking system by allowing the fraudsters to either continue functioning in the country or leave the country without making any efforts to recover the fraud amounts. It has also not provided enough capital support to the banks.

The Congress party urged that the Modi government should handle these fraudsters with an iron fist and make sure that the entire amount, that belongs to our nation, be recovered as soon as possible

"The Reserve Bank of India (RBI) released its Annual Report for the year 2020-21. While it lays out the state of the economy currently, it points out certain alarming statistics. The failure of the Modi government in controlling infections due to the second wave of COVID-19 is denting a heavy blow again to the economy," the Congress said.

According to the RBI, "the March 2021 round of the Reserve Bank's consumer confidence survey (CCS) showed a worsening consumer sentiment on the back of deteriorating sentiments on general economic situation, income and prices," he said.