FM Nirmala Sitharaman attacks Rahul Gandhi, says citizens benefited from clean, strong banking system under Modi government
Finance Minister Nirmala Sitharaman on Wednesday termed Leader of the Opposition (LoP) Rahul Gandhi’s allegations against state-owned banks as an insult to hardworking employees and citizens who benefit from a clean, robust banking system.
Gandhi has a penchant for making baseless statements and the fact is that high levels of corporate debt and indiscriminate lending during the UPA regime caused a major deterioration in the health of public sector banks, he said in a series of X posts.
The banking sector, especially the public sector banks (PSBs), has seen remarkable changes under the leadership of Prime Minister Narendra Modi, he said.
Earlier in the day, Gandhi after meeting a delegation of the All India Banking Officers Confederation accused the government of using public sector banks, “means of helping the masses”, as an unlimited source of money for their “cheating friends”.
“The Modi government has turned these philanthropic schemes into private funders for only the rich and powerful,” he said in a post on X.
Attacking Gandhi, the Finance Minister said, “@RahulGandhi’s misrepresentation is an insult to hardworking PSB employees and citizens who benefit from a clean, robust banking system.
It’s time for @INCIndia to develop LOP’s skills in governance.” It was actually during the UPA regime that Bank Employees were harassed and forced to lend money to “telephone deposits” by Congress-led UPA government officials, he said in his post.
“Didn’t the people who met the LoP tell him that the Asset Quality Review launched by our Government in 2015, exposed the UPA government’s ‘phone banking’ practices? The ‘4Rs’ strategy,” he said.
As part of this strategy, he said, the PSBs were supported with a re-establishment of Rs 3.26 lakh crore in the last 10 years.
“Citizen-centric governance and inclusive development is the prime objective of the Modi Government. People who met the LoP did not tell him that 54 million Jan Dhan accounts and over 52 million unsecured loans under various financial inclusion schemes (PM ).MUDRA, Stand-Up India, PM-SVANIdhi, PM Vishwakarma) punished?,” he wondered.
Regarding job creation, he said, the government has undertaken recruitment efforts and Rozgar Mela programs to fill job vacancies in all central government departments, including banks and PSBs. As of 2014, PSBs employed 3.94 lakh workers.
As of October 2024, 96.61 percent of officers are in office and 96.67 percent of subordinate/awarded staff are in office, indicating fewer vacancies are also being filled.
“Also, didn’t the people who met LoP tell him that the 12th Bipartite Settlement (BPS) was signed, before the normal time taken by the agreement, thereby increasing the income of the bankers?,” he laughed.
The RBI has announced that all banks will be closed on the second and fourth Saturdays of the month of 2015.
Women are doing very well as MDs, CEOs, and leaders in this sector, he said, adding that the Modi government’s commitment to women-led development is evident not just in policy but in practice.
The latest directive issued by the Ministry of Finance to all banks on November 26, 2024 clearly shows that the government is ensuring that banks cater to women workers, their welfare and concerns.
“It includes provisions for special leave for female workers, including those related to leave during menstruation, infertility treatment, the adoption of a second child and maternity events. Also, it included the transfer of female workers to nearby places, not during the year. transfers and more,” he said.
