New Delhi, Mar 26 (UNI) Congress in the Rajya Sabha on Wednesday, stated that the local administration must act with integrity in enforcing government policies and laws while prioritising the public interest.
During the discussion on the Banking Laws (Amendment) Bill 2024, Congress member Shaktisinh Gohil stated that the bill seeks to amend five laws.
However, he emphasised that its implementation must be driven by the right intentions, with officials acting with integrity.
Gohil stressed the need to work in the best interest of the general public.
He said that the bill would introduce changes in the management of cooperative banks.
Gohil also criticized the government for granting leniency to individuals who fled after taking loans from banks.
He asserted that these individuals could have been prevented from escaping, but the responsible officials were too lenient.
Participating in the discussion, BJP’s Arun Singh stated that the bill would enhance convenience for depositors and ensure greater transparency in bank operations.
He highlighted that, under Prime Minister Narendra Modi’s initiative, the general public has been integrated into the banking system, with 54 crore bank accounts opened through the Jan Dhan Yojana.
He also mentioned that the bill could include a provision allowing up to four nominees and that it would grant banks greater autonomy.
Arun Singh stated that, as a result of the government’s efforts, 48 crore people have benefited from Mudra loans, and agricultural lending has also increased.
He further highlighted that government initiatives have led to a reduction in non-performing assets (NPAs), bringing them down to below one percent.
Trinamool Congress’s Saket Gokhale claimed that the data on banking access is being manipulated.
He pointed out that bank deposits are decreasing, and the number of people taking loans is also declining.
Gokhale alleged that women are being forced to sell their mangalsutras to repay loans.
Additionally, he stated that the general public is struggling with rising taxes and inflation, while the banking system continues to inconvenience people with repeated KYC requirements. There is no need for this.
He said that the strength of the economy depends on banking reform. The government should pay attention to this.
DMK’s KRN Rajeshkumar emphasised the need for banks to enhance customer service and streamline the loan disbursal process to make it more efficient, which would help boost the economy.
Aam Aadmi Party’s Raghav Chadha criticised the country’s banking system for operating with outdated practices.
He called for an audit of digital customer services and highlighted that only 50 percent of people in rural areas are currently able to access banking services.
Biju Janata Dal’s Niranjan Bishi expressed concern over the privatisation of banks, calling it a serious issue.
He also urged the implementation of strict laws alongside awareness campaigns to safeguard people from banking fraud.
Highlighting the impact of cyber fraud, he stated that individuals have suffered losses exceeding Rs 27,000 crore.
