Manish Tewari moves adjournment motion notice in LS for discussion on privatization in banking sector

Congress leader Manish Tewari on Wednesday moved an adjournment motion notice in the Lok Sabha over privatization in the banking sector and to discuss "government's attempts on weakening the Public Sector Banks (PSBs)".

Tewari, in his letter to the Secretary-General of Lok Sabha, said: "I hereby give notice of my intention to ask for leave to move a motion for the adjournment of the business of the house for the purpose of discussing a definite matter of urgent importance, namely: at least 8 banking unions have called for a strike on December 16 and 17 against the government's attempts of privatization in the banking sector. The latest attempt is being made via the Banking Laws (Amendment) Bill, 2021."

"The Public Sector Banks serve as the backbone of Indian economy serving their welfare purpose, ensuring financial inclusivity for all and ensuring credit facilities to credit-starved sectors like village and cottage industries, agriculture etc. There have been a lot of big corporate defaulters which have created NPAs in our public sector banks which the government, instead of tightening the laws against defaulters, allows them huge hair-cuts on repayment of loans through IBC leading to lack of crores of losses to the PSBs. This matter of government's relentless attempts on weakening the PSBs are a matter of concern and needs urgent discussion the House," he added.

Tewari had given the adjournment motion notice in the house on the same issue on Tuesday too.

The winter session of the Parliament commenced on November 29 and is scheduled to conclude on December 23.

( With inputs from ANI )

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