Finance Minister Nirmala Sitharaman termed the allegation of Leader of Opposition Rahul Gandhi in opposition to state-owned banks a “misrepresentation of details” and an “insult to the hardworking staff and to the residents” who profit from a cleaner, stronger banking system.
Banking sector, particularly Public Sector Banks (PSBs), have seen a outstanding turnaround beneath the management of Prime Minister Narendra Modi, underlined the Finance Minister in an extended submit on X.
Earlier at the moment, Mr Gandhi, after assembly a delegation from the All India Banking Officers Confederation, accused the federal government of utilizing public sector banks, the “lifelines of the plenty”, to prioritise revenue over individuals and are thus unable to serve the general public successfully.
“Public Sector Banks are being compelled to prioritise revenue over individuals and are thus unable to serve the general public successfully. With employees shortages and a poisonous work setting, they’re anticipated to succeed in unachievable targets with out a stage enjoying area,” Mr Gandhi stated after listening to the members of the confederation.
Attacking Mr Gandhi, the Finance Minister stated, “Rahul Gandhi’s misrepresentation of details is an insult to the hardworking PSB staff and to the residents who profit from a cleaner, stronger banking system. It’s excessive time the @INCIndia up-skills the LOP’s understanding of governance.”
Leader of the Opposition (LoP) @RahulGandhi‘s penchant for making baseless statements is on full show, but once more.
India’s banking sector, particularly Public Sector Banks (PSBs), have seen a outstanding turnaround beneath @PMOIndia@narendramodiDidn’t the individuals who met with the…
— Nirmala Sitharaman (@nsitharaman) December 11, 2024
The Minister claimed that it was in the course of the Congress-led United Progressive Alliance (UPA) authorities when financial institution staff had been harassed and compelled to provide loans to cronies by way of “cellphone banking”.
“Didn’t the individuals who met with the LoP inform him that Asset Quality Review was launched by our Government in 2015, unearthing the ‘cellphone banking’ practices of UPA Govt? Modi Government took cost to provoke the reforms within the banking sector akin to ‘4Rs’ technique,” she stated.
As a part of the technique, she stated, the PSBs had been supported by way of recapitalisation of Rs 3.26 lakh crore within the final 10 years.
“Citizen centric governance and inclusive improvement is the core precept of Modi Government. Didn’t the individuals who met with the LoP inform him that 54 crore Jan Dhan accounts and greater than 52 crore collateral-free loans beneath varied flagship monetary inclusion schemes (PM MUDRA, Stand-Up India, PM-SVANidhi, PM Vishwakarma) have been sanctioned?” she requested.
With regard to employment technology, Ms Sitharaman stated, the federal government has undertaken recruitment drives and Rozgar Mela initiatives to fill lakhs of vacancies throughout all central authorities departments, together with banks and PSBs. Since 2014, PSBs have recruited 3.94 lakh staff.
“Didn’t the individuals who met with the LoP inform him that since 2014, PSBs have recruited 3.94 lakh staff? As on October 2024, 96.61% of Officers are in place and 96.67% of Subordinate/ Award Staff are in place, displaying meagre vacancies that are additionally being stuffed,” she stated.
Women are excelling as MDs, CEOs, and leaders within the sector, she stated, including, the Modi authorities’s dedication to women-led improvement is obvious not simply in coverage however in observe.