PSBs get Rs 15,183 crore following ED action under PMLA: Sitharaman

New Delhi: The Enforcement Directorate (ED) has confiscated assets worth Rs 15,186.64 crore under the stringent prevention of money laundering law and almost all of these have been restituted to public sector banks, Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday.

Replying to supplementary questions in the Rajya Sabha, the minister said specific actions through various legal provisions are being taken against defaulters and as a result, "huge monies" are going back to the banks.

Sitharaman informed the House that as of March 31, 2023, legal suits were filed for recovery against 13,978 loan accounts, action under the SARFAESI Act has been initiated in 11,483 cases, FIRs have been filed in 5,674 cases, and an aggregate amount of Rs 33,801 crore has been recovered.

"As of December 1, 2023, assets amounting to Rs 15,186.64 crores under the PMLA have been confiscated by the ED out of which Rs 15,183.77 crores have been restituted to the Public Sector Banks," she said.

Chairman Jagdeep Dhankhar asked the minister to explain the meaning "phone banking" which was mentioned in reply to a supplementary question.

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