Rahul Gandhi takes dig at Centre on banking plan   

Congress leader Rahul Gandhi took a dig at Centre over RBI proposal to allow corporate houses to set up banks


NH Web Desk

Congress leader Rahul Gandhi took a dig at the Centre over the RBI proposal to allow corporate houses to set up banks. Congress leader Rahul Gandhi asked people to understand the “chronology” of the measures proposed to reshape the domestic banking industry.

Rahul Gandhi used a phrase by Union home minister Amit Shah to explain the Bharatiya Janata Party’s (BJP’s) plans to implement a nationwide National Register of Citizens (NRC). Shah had use “AAP chronology samajhiye (understand the chronology)” last year.

Congress leader took to his official Twitter handle to target Narendra Modi’s government: He wrote: “Chronology samajhiye: First, Karz maafi for a few big companies. Next, huge tax cuts for companies. Now, give people’s savings directly to banks set up by these same companies.” Rahul Gandhi used #SuitBootkiSarkar to end his tweet.

Rahul Gandhi’s reaction came after an internal Reserve Bank of India (RBI) panel’s proposal to allow large corporates to act as promoters of banks after necessary amendments to the Banking Regulations Act,1949.

Earlier, former Reserve Bank of India (RBI) governor Raghuram Rajan and ex-RBI deputy governor Viral Acharya criticised the plan and termed the central bank working group's proposal as a "bombshell".

The central bank had constituted an Internal Working Group (IWG) on June 12 this year to review extant ownership guidelines and corporate structure for Indian private sector banks. The committee’s report was made public last Friday.

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