Prime Minister Shri Narendra Modi and Finance Minister Nirmala Sitharaman talked about Public Sector Banks in Lok Sabha and Rajya Sabha respectively. This comes in response to Rahul Gandhi’s Claims that Public Sectors Banks in India are not being governed properly. Watch both the videos below.
What PM Modi said
PM Modi praised Public Sector Banks and said that Banks are helping the poor people by providing collateral free loans. Watch video for more. pic.twitter.com/3Jt55lUqwn
— Hellobanker (@Hellobanker_in) December 16, 2024
What Nirmala Sitharaman said
FM Nirmala Sitharaman talks about Public Sector Banks in response to Rahul Gandhi's Claims. pic.twitter.com/s565NKSjyg
— Hellobanker (@Hellobanker_in) December 16, 2024
What Rahul Gandhi said
In 1969, former Prime Minister Indira Gandhi nationalized banks, emphasizing that “The political situation in our country today demands that banking facilities should be extended in an increasing measure to backward areas, to agriculture, to small-scale industry, and so on, and perhaps banking operations should be informed by a larger social purpose.”
However, by 2011, census data revealed that less than 60% of Indian households had access to banking services. Only 10.3 crore zero-balance bank accounts were opened until 2012. In comparison, since 2014, over 54 crore Jan Dhan accounts have been opened, with 56% belonging to women. Under the PM MUDRA Scheme, over 50 crore accounts have been sanctioned, of which 68% belong to women.
Through the Stand-up India Scheme, more than ₹30,000 crore has been distributed to 2.5 lakh beneficiaries, 76% of whom are women. The PM SVANidhi Yojana, which offers loans up to ₹50,000, has benefited over 67 lakh street vendors, including 45% women and 42% from OBC communities.
