Yes Bank crisis: BJP govt duped savings of 18 lakh Hindus, says AAP
Delhi's ruling Aam Aadmi Party on Saturday attacked the Centre for bringing YES Bank to the brink of bankruptcy, saying the self-proclaimed pro-Hindu BJP government duped savings of 18 lakh Hindus.
Delhi's ruling Aam Aadmi Party on Saturday attacked the Centre for bringing YES Bank to the brink of bankruptcy, saying the self-proclaimed pro-Hindu BJP government duped savings of 18 lakh Hindus. Aam Aadmi Party MLA Raghav Chadha said YES Bank's loans grew manifold during the BJP government and is now on the cusp of bankruptcy.
"The BJP is bringing up divisive issues like the CAA, the NRC and the NPR, instigating Hindu-Muslim riots to divert the attention of the people of the country from real issues," said Chadha.
He said the BJP claims to be a pro-Hindu party but it is during the BJP government that the deposits of 18 lakh Hindu account holders in the YES Bank are being looted. "The fact is that BJP is neither pro-Hindu nor pro-Muslim. BJP is only pro it's crony capitalist friends," he added. He said millions of people today are in danger of losing their life-long savings.
"Hard earned money and savings of people has disappeared as YES Bank gave loans of millions of crore of rupees to big crony capitalists in the last five years and today they are not ready to return the money," said Chadha.
Presenting the data on the YES Bank's state of affairs, Chadha said when the BJP government came to power in 2014, the total credit given out by YES Bank was only Rs 55,000 crore, this increased to Rs 240,000 crore in 2019.
"All this credit was given out to crony capitalists during BJP's rule and now we find that this money which belonged to the poor and middle class has been stolen. BJP which describes itself as the party that looks out for the interest of Hindus, is responsible for nearly 18 lakh Hindu account holders losing their lives savings."
He went on to said the Bharatiya Janata Party did not even spare God. "Rs 545 crore of Lord Jagannath Trust was deposited in YES Bank, along with all other account holders. This money was also stolen by the big capitalists during the tenure of BJP," said Chadha.
He accused that Hindu-Muslim riots are being instigated to divert people's attention. "Using the CAA, NRC and NPR issue the BJP is instigating riots in the country, andA diverting the attention of the people of the country from important issues. BJP does not want people to ask the government about unemployment, banks failing, and the slowdown in our economy."
He added not only YES Bank, but PMC Bank also faced a similar fate. "Of the total 51,000 account holders, about 48,000 account holders were Hindus, whose money was misappropriated by the BJP government. The double standard of the BJP has been exposed to the public," the AAP leader said.
Chadha said the RBI owes only one lakh rupees to account holders when the bank goes bankrupt, pointing at the RBI's provisions for securing interests of account holders in failed banks.
He said, "Even if an account holder has Rs 10 lakh deposited in a bank and the bank goes bust, according to the RBI, the Government of India will pay a compensation of only Rs 1 lakh to that account holder. The customer will lose the rest of the savings. People are becoming bankrupt in the country, and the people of the country are losing trust in the banking system. Today people feel more secure keeping money at home than in banks."
RBI has put a cap on withdrawal of money from the YES Bank accounts.
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