Speaking against the Centre’s move to privatise public sector banks on the plea that they “alone failed to recover NPAs”, BJP MP Varun Gandhi on Friday asked the Government to desist from privatising them given their huge capacity to employ people across the country and social role.
In a tweet, Varun said private bank may not support self-help groups, provide rural banking and loans to SMEs.
“As we push towards privatising public sector banks, we must take pause to note that they employ almost a million, while helping self-help groups, providing rural banking and giving loans to SMEs. All things that private banks may not pursue”, the MP from Pilibhit, UP, said.
In another tweet in Hindi, Varun sought the union finance Minister to consider pushing Banking bill (amendment) 2021, only after discussing it with the “all affected groups”.
He said there is “no basis” for privatising PSU banks “only on the basis that it is only banks which failed to recover their NPAS”.
Varun indicated that Government was as much accountable for Non-recovery of NPAs of the PSU banks in the country.