Banking system not working, suspect more banks will fail: Rahul Gandhi
Rahul Gandhi took aim at wilful defaulters in Parliament today as decried “the stealing of money from our banks by large numbers of people”. Days after Yes Bank was placed under a moratorium — soon to be lifted — the Congress MP says he thinks more banks will fail.
Rahul Gandhi said today that he suspects more banks will fail during this “difficult period” for the Indian economy, as he took aim at wilful defaulters during a speech in the Lok Sabha.
“Our banking system is practically not working anymore. Banks are failing. And I suspect more banks are going to fail as a result of the current global situation,” he said.
He said a “central cause” was “the hollowing out, the stealing of money from our banks by large numbers of people.”
“The prime minister says he will catch and bring back those who’ve stolen from India’s banks. So I asked the prime mininster’s government for their names. I asked for 50 names, and I didn’t get an answer.”
Rahul Gandhi’s comments come during a crisis at private lender Yes Bank, on which the Reserve Bank imposed a moratorium on March 5, capping most withdrawals at Rs 50,000.
The moratorium will end at 6 pm on Wednesday.
The CBI and ED have arrested Yes Bank’s co-founder and former CEO Rana Kapoor for alleged money laundering and corruption, while his wife Bindu and three daughters are also being quizzed by these agencies for their role in the siphoning of public funds.
