Parliament must debate bank frauds issue, says Venkaiah Naidu
Vice President Venkaiah Naidu Thursday said Parliament should debate the serious issue of alleged PNB bank fraud by Nirav Modi and others that have damaged the country's image and led people to question the entire banking system. Parliament has repeatedly been disrupted ever since it met after the recess to continue the Budget session. Even today, both houses were adjourned in the morning session.
People are questioning entire banking system: Naidu
"Two three instances of Nirav Modi, (Mehul) Choksi and Vijay Mallya...but they are damaging the image of the country and they are damaging the image of the system," the VP said. "People are questioning entire banking system. Is there a structural failure, is there a collusion of people at different levels. If it is so, then why no action is taken," Naidu said.
The lawmakers should find out where the fault lies
Stressing that there is no use in finding fault in whose regime the frauds took place, Naidu said the lawmakers should find out where does the fault lies. "The issue is of people losing confidence in the banking system. This is the larger issue. Who is accountable and what assurance they are giving to depositors. These are larger issues," Naidu said.
Permitted the debate in Rajya Sabha: Naidu
While addressing a realtors' body CREDAI annual conclave, Naidu said that when the proposal came up for discussion in the Rajya Sabha on bank frauds, he had permitted the debate but "unfortunately" discussion is not happening. The Vice President also cautioned CREDAI not to allow black sheep and have a self code of conduct to keep defaulters and violators out of its organization.
