Urban Mirror Correspondent
New Delhi September 12: The Lok Gathbandhan Party (LGP) today slammed both Congress and BJP for resorting to blame game over worst NPA condition in the country. The LGP said instead of accusing each other over the note of former RBI governor Raghuram Rajan to the parliamentary committee on bad loans, both are responsible for the plight of the banking sector as the situation started deteriorating during UPA regime and assumed serious dimension under current NDA government.
The spokesman of the party criticised both parties here on Wednesday for cherry-picking points from the Rajan’s report to target each other. The spokesman said both BJP and Congress are responsible for the banking mess and owed an explanation to the nation. The spokesman said if the NPA started getting bad during the UPA government, Nirav Modi and Mehul Choksi looted Punjab National Bank during the NDA regime and escaped. Calling upon the people to be vigilant about the machination of the both parties, the spokesman said the countrymen wanted to know what action has been taken to control the drift. The spokesman said neither the UPA nor the NDA have taken any action against the financial crimes by the anti-national forces, who are now well-ensconced in other countries. The spokesman said both UAP and NDA cannot take the people for granted on the vital issue of NPA which has pushed the nation to the brink of disaster.
The spokesman said public sector banks (PSBs) have been bleeding for a long time because of rising NPAs which have now crossed Rs ten lakh crore because of massive corporate frauds but no action has been taken to control the crisis. The spokesman said now UPA and NDA are blaming each other to distract the attention of the people from the real issue and their failure in saving the taxpayers money. The spokesman said the present crisis is the result of direct involvement of top level of banking management with politicians and corrupt corporate sector.
The spokesman said recapitalization of banks over the last ten years following rising NPAs and corporate frauds have put massive burden on poor taxpayers and have also completely shaken the confidence of small depositors in banking. The spokesman said the Reserve Bank of India (RBI) too has not been able to effectively control them. With crisis of governance assuming serious proportion in the banking sector, the spokesman said with this state of affairs the economy is destined to crash and the dimension of financial terrorism could be gauged from the fact that every four hours one bank officer is being held for fraud in the country.
