By Nirmala Sitharaman Slams Rahul Gandhi’s PSB Allegations, Highlights Modi Government’s Success
Finance Minister Nirmala Sitharaman has dismissed Rahul Gandhi’s recent accusations that the Modi government has misused public sector banks (PSBs) for fraudulent activities. In a series of tweets, Sitharaman highlighted the significant progress made in the banking sector, pointing to the ₹3.26 lakh crore recapitalization and various reforms under Prime Minister Modi’s leadership.
Sitharaman Denies Rahul Gandhi’s Claims of Misuse of Public Sector Banks
Rahul Gandhi’s recent remarks about the Modi government’s alleged misuse of PSBs were categorically rejected by Sitharaman. She described these allegations as misleading and baseless, asserting that the government’s policies had instead bolstered PSBs and made them far more efficient and transparent.
How ₹3.26 Lakh Crore Recapitalization Has Transformed Public Sector Banks
A key aspect of the Modi government’s reforms in the banking sector was the infusion of ₹3.26 lakh crore into PSBs. This recapitalization program has been vital in helping PSBs recover from years of mismanagement and rising non-performing assets (NPAs). The capital provided has enabled the banks to regain stability, support economic activities, and provide much-needed credit to various sectors.
Modi Government’s Reforms Revitalize PSBs, Strengthening the Indian Economy
The Modi government’s banking reforms, including enhanced governance standards, digitization, and transparency, have transformed PSBs into efficient financial institutions. These reforms have helped PSBs play a central role in supporting India’s economic growth, contributing to job creation, infrastructure development, and financial inclusion.
Sitharaman Compares UPA’s Banking Failures to Modi Government’s Achievements
Sitharaman also compared the current state of PSBs to the period under the UPA government, which faced a series of challenges, including rising NPAs and corruption scandals. In contrast, the Modi government has implemented effective solutions to address these issues, resulting in a more robust banking sector.
Sitharaman’s response to Rahul Gandhi’s allegations underscores the significant progress made in India’s banking sector under the Modi government. The ₹3.26 lakh crore recapitalization, combined with key reforms, has helped strengthen PSBs and positioned them as key drivers of India’s economic growth, ensuring their future success.