Communist Party of India (CPI) general secretary D. Raja urged Prime Minister Narendra Modi to withdraw the Banking Laws (Amendments) Bill, 2021, which seeks to privatise the public sector banks. The Bill is listed in the tentative legislative agenda for the upcoming winter session of Parliament.
Finance Minister Nirmala Sitharaman had proposed this Bill in her Budget 2021-22 speech.
Mr. Raja called the move retrograde and said it would jeopardise the interests of the common people and the backward regions of the country.
In his letter to the Prime Minister, Mr. Raja said the public sector banks had acted as catalysts in the economic development of our nation in general and particularly for the underprivileged sections of the society and the backward regions of the country. He added that public sector banks help sustain the country in times of economic crisis.
