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Teluguvaadu Junior Artist Username: Teluguvaadu Post Number: 585 Registered: 11-2012 Posted From: 117.195.239.125 Rating: N/A |
http://www.thehindu.com/news/cities/Delhi/dont-privatise-idb i-kejriwal-writes-to-pm/article8428048.ece A day after a contingent of Industrial Development Bank of India (IDBI) officials called on him, Chief Minister Arvind Kejriwal wrote to Prime Minister Narendra Modi on Saturday opposing the Centre’s proposal to privatise the bank. Arguing that the logic behind the Centre’s decision to reduce its stake below 51 per cent in the bank was 'riddled with flaws' and 'unjustified', Mr. Kejriwal said the IDBI had played an important role in the industrial development of the country through its coordination with main financial institutions over the last five decades. Stating that the Non Performing Assets (NPAs) of the bank mainly consisted of dues recoverable from big industrial houses, the Chief Minister urged the Centre to instead 'give a free hand to its officials to 'act against those companies and industrialists like United Breweries Group Chairman Vijay Mallya'. 'It is very unfortunate that the government, instead of acting strongly against people like Mallya, is letting them flee the country,' Mr. Kejriwal wrote. 'There must be so many industrialists who have taken money from the banks. The government, on one hand, is stopping the banks from recovering the money while it is selling their shares towards privatising them,' he added. On Friday, Mr. Kejriwal had alleged that some IDBI officers, who met him over the issue of privatisation seeking his support against the move, were later 'grilled by the Intelligence Bureau. |