“The Congress get together condemns the proposal and calls for that the federal government unequivocally and forthwith declare that it has no intention of pursuing the proposal,” Chidambaram stated. The previous finance minister stated the Congress would method numerous political events and commerce unions to oppose the transfer and construct public opinion in opposition to it.
“We name upon all of the individuals of India and all political events and commerce unions to hitch us in resolutely opposing the retrograde thought of permitting corporates and enterprise homes to enter the banking sector and arrange banks,” he stated. He stated the proposal, if applied, will utterly reverse the big good points made within the final 50 years of retrieving the banking sector from the clutches of enterprise homes.
Chidambaram stated the concept shouldn’t be mooted by the RBI and has the fingerprints of the Modi authorities written throughout it. “It’s not the RBI’s thought. The RBI is being misused by the federal government to suggest this concept. Simply because the RBI didn’t suggest demonetisation and the federal government used it to say so, the federal government is misusing essentially the most venerable establishment to push its agenda,” he stated.
Chidambaram stated the Congress is of the view that the banks ought to stay as public sector and the transfer is aimed toward weakening the general public sector banks. “We all know who will get the licences by means of this transfer. Solely the politically related company homes will get the financial institution licences,” he alleged, saying the get together would construct public opinion in opposition to it. Surjewala stated the Congress would speak to numerous different political events to oppose the transfer in public curiosity.