Preity Zinta Rebuts Kerala Congress's Loan Write-Off Allegations Amidst New India Cooperative Bank Controversy

Summary: Bollywood actress Preity Zinta has vehemently denied allegations made by the Kerala unit of the Congress party, which claimed she had an ₹18-crore loan written off by the New India Cooperative Bank in exchange for handing over her social media accounts to the Bharatiya Janata Party (BJP). Zinta labeled these accusations as “vile gossip” and clarified that the loan was fully repaid over a decade ago.

Kerala Congress’s Allegations

On February 24, 2025, the official X (formerly Twitter) handle of the Kerala Congress shared a post alleging that Zinta had her ₹18-crore loan written off by the crisis-stricken New India Cooperative Bank. The post insinuated a quid pro quo arrangement, suggesting that in return for the loan waiver, Zinta handed over her social media accounts to the BJP. The party’s post read: “She gave her social media accounts to BJP and got 18 Cr written off and the bank collapsed last week… Depositors are on the streets for their money.”

Preity Zinta’s Response

In a series of posts on February 25, 2025, Zinta refuted the claims, emphasizing that she manages her social media accounts personally and has no affiliations with the BJP regarding her online presence. She stated: “No, I operate my social media accounts myself and shame on you for promoting FAKE NEWS! No one wrote off anything or any loan for me. I’m shocked that a political party or their representative is promoting fake news & indulging in vile gossip & click baits using my name & images.”

Addressing the loan in question, Zinta clarified that while she did take a loan, it was entirely repaid over ten years ago. She added: “For the record, a loan was taken and FULLY PAID BACK – over 10 years ago. Hope this clarifies and helps so there are no misunderstandings in the future.”

Kerala Congress’s Clarification

Following Zinta’s rebuttal, the Kerala Congress acknowledged the possibility of misinformation in their earlier post. They responded: “Good to know you’re managing your own account, unlike other celebs who have handed theirs over to the notorious IT cell. Thanks for the clarification, @realpreityzinta regarding your loan position. We are glad to accept mistakes if we have made any.”

Critique of Media Reporting

Zinta also addressed the role of media in propagating the allegations. She specifically called out journalist Sucheta Dalal, co-founder of Moneylife, for reporting the alleged loan write-off without verifying the facts. Expressing her frustration, Zinta wrote: “So much misinformation going around but thank god for social media and thank god for X! All through my career I have seen so many so respected journalists get so many stories completely wrong & never have the decency to correct the story or apologise.”

She further emphasized the importance of accountability in journalism: “I think it’s time we start holding them responsible right here so there is some accountability in the future. I’m definitely going to start naming all these journalists that write articles without following up or investigating the stories.”

New India Cooperative Bank’s Financial Turmoil

The controversy coincides with financial instability at the New India Cooperative Bank. On February 13, 2025, the Reserve Bank of India (RBI) imposed stringent restrictions on the bank due to liquidity concerns. These measures included prohibiting the bank from issuing new loans, renewing existing ones, accepting new deposits, and selling its assets. The RBI also superseded the bank’s Board of Directors for 12 months, appointing a former chief general manager of the State Bank of India as the administrator for the duration.

In response to depositor concerns, the RBI announced on February 24, 2025, that customers would be permitted to withdraw up to ₹25,000 from their deposit accounts starting February 27, 2025. This decision aims to alleviate the financial strain on depositors affected by the bank’s operational restrictions.

Preity Zinta’s prompt and assertive response to the Kerala Congress’s allegations underscores the challenges public figures face concerning misinformation and the rapid spread of unverified claims. The incident highlights the necessity for political entities and media outlets to exercise due diligence and fact-checking before disseminating information that can potentially damage reputations. Simultaneously, the financial crisis at the New India Cooperative Bank serves as a reminder of the broader economic implications such controversies can entail, affecting not just individuals but also the general public reliant on these financial institutions.

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