[ad_1] New Delhi: Aam Aadmi Party MP Raghav Chadha raised the issue of the position of banks in the Rajya Sabha. Finance Minister Nirmala Sitharaman replied to this in a light manner. Sitharaman said that Raghav Chadha's experience of Western countries will be helpful for the people of the country. he/she jokingly said that Raghav Chadha paid attention to fans, walls and other things in banks. he/she was very happy with this.Did Finance Minister Sitharaman say?Sitharaman said that some MPs are busy with international issues, but Chadha visited rural banks and saw the shortcomings there. The Finance Minister encouraged Chadha to keep doing this. he/she said that with the experience of Western countries, he/she can do a lot for the people of the country.Raghav Chadha smiled at the reply of Finance MinisterDuring the reply of the Finance Minister, Raghav Chadha appeared smiling. Earlier, the AAP MP had expressed concern over the serious crisis in the country's banking system. During the discussion on the Banking Law (Amendment) Bill, 2024 in the Rajya Sabha, he/she questioned the intention of the government. he/she said that this bill does not live up to the expectations of the public. This bill is limited to procedural reforms only and has not touched the ground issues from which common citizens are getting two-four daily.AAP MP raised the issue of the status of banksSpeaking in the Rajya Sabha, Chadha said that from the savings of the common man to the debt of the farmers, from the education of the youth to the pension of the elderly, the banking system is related to the lives of every citizen. However, the situation is that due to banking fraud, loan recovery problems and increasing pressure on employees, this system is losing the trust of the common man. Today the situation is such that people are afraid to trust banks.Talk about increasing interest rates of loanhe/she said that today the interest rates of home loan in the country have reached 8.5 percent to 9 percent and education loans have reached 13 percent. Due to this, buying a house for the youth has become heavy till studying. Students are still unable to start earning that they are drowned in debt. At the same time, interest is being charged up to 11 percent on MSME loan, due to which it is becoming difficult for small businessmen to increase business.he/she said in his/her suggestion that the government should fix the maximum limit of interest rate on education and home loans. For the first time, home buyers should get subsidized rates and RBI should increase competition in the market by encouraging small and digital banks to reduce interest rates.'Now people have confidence in banks'Raising the issue of senior citizens, Raghav Chadha said that the rate of fixed deposits is 6.5 percent, while inflation has reached 7 percent. That is, the life-long capital of the elderly is gradually ending. A minimum of 8 percent interest rate for Senior Citizens should be ensured so that their savings can survive in front of inflation. The banking system is the biggest support of the common man. Farmers, laborers, employed people, women, all keep their hard earned money in the bank, with the expectation that will help in times of need. But, now this trust is staggering.he/she said that if there was no bank, the farmer would cut his/her stomach, sell milk of animals and deposit money for the education of children. It is because of the banks that the citizens of the country are confident that the earnings of blood and sweat will be useful in a thick time. Today, the declining credibility and lack of transparency of the banking system has made people unsafe. [ad_2]
