Notice of breach of privilege against SBI chief
Mumbai, The opposition on Friday moved a notice of breach of privilege of the Maharashtra assembly against Arundhati Bhattacharya, Chairperson of State Bank Of India, for her comments on farm loans waiver.
 
The Leader of Opposition in the assembly, Congress's Radhakrishna Vikhe Patil, moved the notice under the Maharashtra Legislature's Section 273, addressed to Speaker Haribhau Bagade.
 
In the notice, Vikhe Patil said that in recent times there has been a spate of farmland suicides across the country and 8,000 farmers have ended their lives in the past two years in Maharashtra alone.
 
"The people of Maharashtra have been demanding a complete farm loans waiver package and the issue has been repeatedly raised in the legislature in the past few days. In Uttar Pradesh, the BJP has assured it will take a decision on loans waiver in the very first cabinet meeting," Vikhe Patil said.
 
Under these circumstances, he pointed out that Bhattacharya's public comments that such a measure "would disturb the credit discipline among the borrowers, they would keep expecting more such waivers in future and even those (future) loans would remain unpaid" was tantamount to rubbing salt in the farmers' wounds.
 
Vikhe Patil said the SBI chief was "a public servant" and not "a policy-maker" for the country or the state.
 
Besides, he said her comments were beyond her jurisdiction since any decision on waiving off farm loans can be taken only by the legislature and by her comments she had insulted the Maharashtra legislature.
 
Keeping these aspects in view, he urged the Speaker to take further steps.
 
Vikhe Patil's move came a day after the opposition parties trolled Bhattacharya for her comments and demonstrated outside the SBI headquarters.
 
The opposition on Thursday demanded an apology to the farmers failing which they threatened to move a notice of breach of privilege against the SBI chief.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User 

    COMMENTS

    GLN Prasad

    3 years ago

    What a democracy ? An expert in her field should not speak on an issue which she is the most competent person to express even to Hon PM and finance Minister. These waivers are not new, and what happened to Banks after all these waivers, every Banker is aware. In a democracy it is not time for expressing free and frank opinions basing on expertise, whereas demonetisation, without fundamental knowledge in Monetary policy was even criticised by those who are in no way connected. I can only bend my head with shame for such threats by our elected representatives.

    REPLY

    S BHASKARA NARAYANA

    In Reply to GLN Prasad 3 years ago

    I too agree with you.

    SRINIVAS SHENOY

    3 years ago

    I feel she has remarked a business policy decision, as a prudent banker would do. While the legislators take decisions mainly with a political angle, only to gain popularity translated into votes.

    All cash withdrawal limits go back to pre-demonetisation era
    All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month.
     
    In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to cease from March 13.
     
    The announcement had been made by RBI Deputy Governor R. Gandhi following the fiscal's last monetary policy review announcement by the central bank in February, when it kept its key interest rate unchanged at 6.25 per cent, saying it awaited data on the full impact of the government's demonetisation drive.
     
    On January 30, the RBI had ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.
     
    The limits were placed following the November 8 demonetisation of Rs 1,000 and Rs 500 notes. The upper limit at ATMs was just Rs 2,500 initially and was later raised to Rs 4,500.
     
    In January, the RBI had hiked the daily ATM withdrawal limit to Rs 10,000 and doubled the weekly Current Account withdrawal limit to Rs 1 lakh.
     
    The upper limit for weekly withdrawal from bank accounts had been raised to Rs 24,000 from Rs 20,000 in November.
     
    While lifting of ATM withdrawal limits represents coming full circle for these machines in respect of demonetisation, the return to normalcy in terms of cash available in them is still awaited, indicating the slow pace of remonetisation.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User 

    2 bankers booked for violating RBI guidelines
    The CBI has booked two Union Bank of India employees here for allegedly violating the RBI guidelines by depositing in the bank's chest over Rs 84 crore in old currency notes of three private firms, an official said on Tuesday.
     
    Deputy General Manager Ashok Kumar Dhabhai and Assistant General Manager K. Shivashankar Rao were booked along with the directors of the three jewellery firms -- Pihu Gold, Satnam Jewellers and Pushpak Bullion here.
     
    All have been booked for criminal conspiracy, cheating and forgery of Indian Penal Code, and sections of the Prevention of Corruption Act. 
     
    The directors of the firms have been identified as Rakesh Patel, Mayur Deepak Chawla and Amit Sampat. 
     
    Central Bureau of Investigation (CBI) spokesperson R.K. Gaur said two of the three private firms deposited Rs 47.45 crore and Rs 37.15 crore in their accounts with the Union Bank of India's branch in Zaveri Bazar during November 15-December 26 period. 
     
    "The firms fraudulently showed the deposits by fabricating records. The amounts were further shown as transferred to the account of a third firm which has been maintaining its NPA (Non-Performing Asset) in the same branch of the bank," Gaur said. 
     
    "The amount was later directly deposited into the currency chest of Union Bank of India in old currency notes in the guise of outright purchase (Cash Purchase) of gold from Standard Chartered Bank or other authorised bank by the third firm," he added.
     
    Gaur said the huge cash was deposited purportedly by representatives of the private firms in an alleged conspiracy with the senior officials of the bank. 
     
    "The accused persons violated the RBI guidelines issued on November 8, 2016," said the officer, adding the agency conducted searches at 12 places, including residential and office premises of accused persons, and recovered incriminating documents.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User 

    COMMENTS

    SRINIVAS SHENOY

    3 years ago

    I hope severe action is taken against these guilty officials.

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