IDBI Bank Sale: High profile political cross-over between Samajwadi Party leader Akhilesh Yadav and Finance Minister Smt. Nirmala Sitharaman

The United Forum of IDBI Officers & Employees has officially voiced strong opposition to the sale of IDBI Bank to Fairfax. The union has formally demanded a parliamentary scrutiny review and immediate suspension of subsequent steps. They are urging the Insurance Regulatory and Development Authority of India (IRDAI) to investigate whether LIC is securing an adequate financial return on an investment originally funded by everyday policyholders. Apart from this, a high profile political cross-over was witnessed between Samajwadi Party leader Akhilesh Yadav and Finance Minister Smt. Nirmala Sitharaman

High-Profile Political Cross-over

The cabinet approval triggered a sharp political debate between the ruling government and the opposition. Samajwadi Party leader Akhilesh Yadav publicly criticized the move, calling it a “season-end sale” where the government is selling off public assets.

Finance Minister Nirmala Sitharaman quickly fired back, reminding the opposition that the previous UPA regime had left public sector banks in “ruin” via non-transparent phone-banking practices, and highlighting that the current government successfully revitalized IDBI Bank’s financial health.

What Akhilesh Yadav said?

What FM Sitharaman said?

0 Comments

*Enter your name

*Email not valid.

*2 characters minimum.

Do not change these fields following