In the now viral video from the parliament’s budget meeting, the Minister of Finance of the Union Nirmala Sithaman and the leader of the AAM AADMI Raghav Chadha party were seen on Thursday.
The Minister of Finance responded to deep concerns of AAP leader on poor customer service, limited banking infrastructure in rural India, hidden banks of banks and other serious crises affecting the country’s banking system.
“It’s as if you have entered the 80’s or 90s building when you enter a government bank – the color is falling, the fans work on their own whim and the queues are longer than the railway counter,” said AAP Raghav Chadha.
Watch here:
“Amused” response of Nirmala Sitharaman
The Minister of Finance said that the leader AAP Raghav Chadha exposure to the Western world would help people in the country.
“I was amused, sir, if Raghav Chadha member continues to insult, observed the number of fans in the bank, the status of the bank, how many were whitewashed and not painted. I am really happy. There are members of parliament who are otherwise very busy with many international things.”
“He found time to visit rural banks and looked at them, noticed that there were no fans, no doors, no chairs. Raghav Chadha, please do more. It will help people in the country because you can do much more with your exposition, especially the Western world.
Watch here:
Raghav Chadha replies again
While the leader AAP Raghav Chadha was seen as he smiled at the reaction of the Minister of Finance, later he said: “If only Hon’ble FM focused more on the state of rural banks that are in ruins, instead of classes I attended at Harvard University,”
What did Raghav Chadha say in the banking system
During the discussion on banking laws (amendments), 2024 in Rajya Sabha, he questioned the intentions of the central government and said that the bill does not meet the public’s expectations.
He criticized this as a bill focused only on procedural reforms, failed to deal with the real questions that citizens face daily, and stressed that banks are not only financial institutions, but by the establishment of democracy.
Also read | RBI to replace the currency Forex $ 10 Bn for infusion of liquidity in banking
“From ordinary savings to people to farmers ‘loans, from students’ education to pensioners – the banking system is deeply integrated into every citizen.
About Loans for Housing and Loans for Education
The leader AAP Raghav Chadha pointed out that rates of loans for housing in the country increased to 8.5 % – 9 %, while education loans ranges from 8.5 % to 13 %.
“As a result, the ownership of the house has become unavailable to young individuals and education becomes excessively expensive and pushes the students to debt before they start earning. In addition, MSME loans have reached 11 percent, making growth more difficult for small businesses,” he said.
Also read | Crush your educational debt: 6 brilliant tips for faster loan repayment
He called on the government to set the maximum limit for education and interest rates for housing loans. For the first time, Homebuyers should receive subsidized interest rates for available housing. He also suggested that RBI support small and digital banks to help reduce interest rates.
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