Union Minister of State for Finance, Pankaj Chaudhary, informed Rajya Sabha (Upper House) that Panjab cooperative banks, with a mere 0.91% gross Non-Performing Asset (NPA) percentage as of 31 Mar, rank third in India in terms of the lowest NPA in this sector. Jammu and Kashmir recorded the highest gross NPA percentage at 55.52%, while Telangana reported the lowest at 0.08%. At the same time, the Directorate of Enforcement (ED) launched a money laundering investigation against Mohali-based Vuenow Group in connection with the ‘cloud particle scam,’ uncovering a new modus operandi where over 25K investors from Panjab, Haryana, and Uttar Pradesh collectively invested USD 259M in cloud particles, which were leased back to end users at high rental rates despite the absence of any corresponding physical infrastructure. The ED found Vuenow Group deceived investors by selling cloud particles without proper digital infrastructure. Meanwhile, Panjab’s Water Supply and Sanitation Minister, Hardip Singh Mundian, on 10 Dec urged Union Jal Shakti (water resources) Minister CR Patil to release the pending first installment of USD 18.9M for the 2024-25 fiscal year under the Jal Jeevan Mission (JJM). Mundian stated that these funds were crucial for enhancing the implementation of the JJM in Panjab. Amid this, groundwater fluoride contamination has been detected beyond permissible limits in over 62% of districts in Panjab and Haryana, posing serious health risks such as infertility, skeletal cancer, and organ damage. The Ministry of Jal Shakti highlighted fluoride's health risks in the Rajya Sabha.
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