New Delhi, February 26, 2025 – A heated public spat has erupted between Bollywood actress Preity Zinta and the Kerala unit of the Indian National Congress (INC), thrusting the star into the center of a political storm. The controversy, unfolding on social media and dominating headlines, revolves around claims of an alleged ₹18 crore loan write-off tied to the collapse of the New India Cooperative Bank, with Zinta fiercely denying the accusations and accusing the Congress of peddling "fake news."
The Spark: Kerala Congress’ Allegations
The row began on February 24, 2025, when the official X handle of Kerala Congress posted a provocative claim. Referencing an article from a news outlet, the party alleged that Preity Zinta had handed over her social media accounts to the Bharatiya Janata Party (BJP) in exchange for a ₹18 crore loan waiver from the beleaguered New India Cooperative Bank. The post stated, "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." The accusation came amid reports of financial irregularities at the bank, which saw its board dissolved by the Reserve Bank of India (RBI) on February 15, 2025, after ₹122 crore reportedly went missing.
The Kerala Congress’ post implied that Zinta’s alleged support for the ruling National Democratic Alliance (NDA) government—evidenced by her recent social media activity praising Prime Minister Narendra Modi and government initiatives—was linked to this supposed financial favor. The claim quickly gained traction, igniting a firestorm of speculation online.
Zinta’s Fiery Rebuttal
Preity Zinta, known for her roles in iconic films like Dil Chahta Hai and Veer-Zaara, wasted no time in hitting back. On February 25, 2025, she took to X to dismiss the allegations as baseless and accused the Kerala Congress of exploiting her name for political gain. "No I operate my social media accounts myself and shame on you for promoting FAKE NEWS!" she wrote. "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."
Zinta clarified that she had taken a loan from the New India Cooperative Bank over a decade ago and repaid it in full, long before the bank’s recent troubles surfaced. Labeling the accusations "vile gossip," she expressed frustration at the misuse of her reputation, adding, "So much misinformation going around but thank god for social media and thank god for X!" She also called out journalists, including financial reporter Sucheta Dalal, for spreading unverified claims, demanding accountability and an end to the narrative.
Kerala Congress’ Response: A Shift in Tone
Facing Zinta’s sharp rebuttal, the Kerala Congress softened its stance on February 25, 2025. In a follow-up post on X, the party acknowledged her clarification while subtly standing by its initial intent. "Good to know you’re managing your own account, unlike other celebs who have handed theirs over to the notorious IT cell," the post read. "Thanks for the clarification, regarding your loan position. We are glad to accept mistakes if we have made any. We shared the news as reported by media outlets."
However, the party doubled down on its broader narrative, urging Zinta to provide "proof" of her loan repayment to "clear the air" and to voice support for depositors affected by the bank’s collapse. "We stand with the depositors who lost their savings," they added, attempting to pivot the focus back to the financial scandal.
The Backdrop: New India Cooperative Bank Scandal
The controversy is rooted in the ongoing crisis surrounding the New India Cooperative Bank, based in Mumbai. On February 13, 2025, the RBI imposed severe restrictions on the bank due to liquidity issues and supervisory concerns, prohibiting it from issuing new loans or accepting deposits. Reports later emerged alleging that the bank had written off significant loans—including the ₹18 crore reportedly linked to Zinta—without proper recovery procedures, while depositors struggled to access their funds. Former bank employees cited in media reports claimed that corporate loans, some as large as ₹25 crore, turned into non-performing assets (NPAs) under questionable circumstances after 2010.
Zinta’s name surfaced in this context, with some outlets speculating about political connections. However, no concrete evidence has been presented to substantiate the claim that her loan was waived or that she traded her social media influence for favors.
Voices in the Debate
The tug of war has drawn varied reactions. Sources close to Zinta, speaking to India Today, reiterated that the actress repaid her loan years ago and dismissed the Kerala Congress’ claims as "false and politically motivated." Meanwhile, the Congress unit maintained that its statements were based on media reports, such as one from IndianCooperative.com, which tied Zinta’s name to the bank’s irregularities.
On X, public sentiment has been mixed. Some users praised Zinta for taking a stand, with one writing, "Preity Zinta calling out fake news is a mood. Good for her!" Others questioned the Congress’ motives, with a post reading, "Kerala Congress dragging a Bollywood star into a bank mess—desperate much?" However, supporters of the party argued that Zinta should provide documentation to settle the matter conclusively.
What’s Next?
As of February 26, 2025, the standoff shows no signs of abating. Zinta has made it clear she considers the matter closed, warning against further misuse of her name. The Kerala Congress, while conceding it may have erred, continues to press for transparency, framing itself as a champion of the affected depositors. Meanwhile, the RBI’s investigation into the New India Cooperative Bank’s collapse is ongoing, with potential revelations that could either validate or further debunk the claims swirling around Zinta.
For now, this clash between a Bollywood icon and a political heavyweight has captivated the nation, raising questions about accountability, the perils of misinformation, and the intersection of celebrity and politics in India’s charged public sphere.