TMC MP Calls Union Minister's Response To Cooperative Bank Scams A "Circus"
New Delhi: Trinamool Congress (TMC) Rajya Sabha MP Saket Gokhale today called a response given by Union Minister Krishal Pal to a question regarding cooperative bank scams an “astonishing circus.” Stating that he asked the government about how many cooperative banks have shut down due to scams & bad loans and the steps the government took to protest the money of depositors, the TMC leader said “Amit Shah’s minister” got up and said “there are no scams in our govt”. Gokhale added that the minister then said that about 77 banks found involved in such scams, highlighting that he doesn’t say any words about how hard earned money of people is being protected in these banks.
Taking to X, TMC MP wrote, “77 bank scams but “our Modi Govt has no scams,” and shared the video of his encounter with Union Minister of State of Power and Heavy Industries in the parliament, with a note “watch the astonishing circus played by the Modi Govt.”
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This is hilarious!
I asked Modi Govt in Parliament about how many cooperative banks have shut down due to scams & bad loans & what steps have been taken to protect money of depositors.
Amit Shah’s Minister gets up and says:
“There are no scams in our govt”.
And then he… pic.twitter.com/yjFvO7dBRo
— Saket Gokhale MP (@SaketGokhale) December 5, 2024
In 2023, the Department of Financial Services revealed an alarming number of cooperative banks scams across the country, and the data showed that a total of 4,135 frauds involving a whopping Rs 10,856.7 crore from 2019 to June 2023.
Regulated by both the Reserve Bank of India (RBI) and the respective state governments, the cooperative banks are playing key roles in providing financial service to the rural and low income people in the country. A primary source of credit for agricultural and other small industries, it helps various communities across the country.
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However, the raising cases of fraudulent activities and scams in the cooperative banks including the recent Karuvannur Service Co-operative Bank scam in kerala where the Enforcement Directorate (ED) found benami properties worth Rs 200 crore and mismanagement of the bank, have raised concerns.
