BJP destroying people's trust in banking system: Mamata

Accusing the BJP-led central government of "destroying" the public's trust in the country's banking system, West Bengal Chief Minister Mamata Banerjee today asked where would the people keep their money if their most trusted institution was allowed to be looted.
Her comments came at a time when the state-owned Punjab National Bank (PNB) has detected a Rs 11,400-crore scam, in which diamond merchant Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a Mumbai branch of the bank to secure overseas credit from other Indian lenders.
"Banks, which are our place of trust for keeping our money, are being destroyed. Where will the people keep their money," Banerjee said at a public meeting in this north Bengal town.

Claiming that not only the banks were being allowed to be "looted" by a few, she alleged that the BJP government was also planning to introduce the Financial Resolution and Deposit Insurance (FRDI) Bill, through which it could "forfeit" a customer's savings or fixed deposits and said the proposed bill needed to be withdrawn at the earliest.
The Trinamool Congress (TMC) supremo alleged that the government was recovering the losses accrued on account of the loot of thousands of crores of rupees from the banks by reducing the interest rate on provident funds, fixed deposits and small saving schemes.
Claiming that women self-help groups and farmers were denied loans by the banks, she said, "Around 12,000 farmers have committed suicide in the country. Many of them chose the path for not being able to pay back their loans."

Referring to the Centre's plan to make Aadhaar cards for cows, she said that while a cow had protection in the country, the general public did not.

Pointing out that when a political leader took a donation of Rs 50,000, there would be an ED interview and CBI and Income Tax probes, Banerjee alleged that those who were looting thousands of crores were being laid out a red carpet by the government.
Both the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) are investigating the Narada sting video tapes that showed senior TMC leaders, including ministers and MPs, purportedly taking bribes.

"We want proper steps to be taken to stop the rot in the banks and it may lead to opening up of a can of worms," the TMC chief said.
Taking a dig at the saffron party over inaugurating the "largest party office in the world", Banerjee said the BJP was the party of the richest people.