UC News

India’s banks had ‘worst’ phase under Manmohan Singh- Raghuram Rajan: Says Finance Minister

India’s banks had ‘worst’ phase under Manmohan Singh- Raghuram Rajan: Says Finance Minister

The public sector banks in the country has the most worst time under former prime minister Manmohan Singh and RBI governor Raghuram Rajan accused union Finance Minister Nirmala Sitharaman. She said this while delivering a lecture at Columbia university.

” It was in Rajan’s time as Governor of the Reserve Bank ” that loans were given just based on phone calls from crony leaders and public sector banks in India till today are depending on the government’s equity infusion to get out of that mire” , said Finance Minister.

” An I am here today, giving him his due respect, but also placing the fact before you that Indian public sector banks did not have a worst phase than when the combination of Singh and Rajan as Prime Minister and the Governor of Reserve bank, had. At that time none of us knew about it”, She added.

READ SOURCE
Open UCNews to Read More Articles

HOT COMMENTS

Jahangir

plzzz resign and get urself admited to mental hospital

1 Months ago

3
Chandi

OUR FM IS REALLY GONE MAD GIVES LECTURES LIKE A MAD ABOUT FORMER PM MR.SINGH

1 Months ago

2
DP929

Yes she is absolutely right.During the year 2004 to 2014 Dr Manmohan Singh as p.m .RBI governer Raghuram Rajan's time too much fraud happened,whole banking system collapsed but they hide the truth to general public.property rate rise to thousand percent(corruption money invested in property) without rising income of common people.to stop all this fraud God sends a prophet(Awtar ) Shri Narendra Modi to save India and It's 120 crores common people.

1 Months ago

0
Read More Comments