<b>XIII LOK SABHA DEBATES, <i> Session II (Winter Session) </i> </b>
XIII LOK SABHA DEBATES, Session II (Winter Session) Monday, December 20, 1999/Agrahayana 29, 1921 (Saka )

Title: Need to re-consider the recommendations by the Task Force Committee of the Confederation of Indian Industry (CII) to close the three nationalised banks namely the Indian Bank, UCO Bank and the United Bank of India.

SHRI T.M. SELVAGANPATHI (SALEM): Sir, I would like to raise a very serious issue about the Task Force Committee set up by the Confederation of Indian Industry, CII.

Sir, the CII had recommended to the Government closure of three nationalised banks, that is, the Indian Bank, UCO Bank, and the United Bank of India. This report has created a panic and a kind of uncertainty among the general public, the borrowers from the banks and the depositors in particular. It is going to create an adverse impact on the people who have deposited money in these nationalised banks. This report is going to have a run on the entire nationalised nationalised banks in this spectrum.

Sir, fearing exposure and fearing disclosure of the defaulters' list, now the CII has backed out of the report and they have reported in the Press that they are withdrawing the report submitted to the Government.

Sir, now, the cat is out of the bag. Fearing exposure in the hands of the Bank Employees' Union, the CII has come out with the withdrawal of the Report. There is something hidden in this entire episode. The Task Force consists of certain corporate sector industrialists, mainly, two members, Shri Rahul Bajaj and Shri Bharat Ram, both of them owe Rs. 500 crore and Rs. 350 crore respectively to these nationalised banks. Fearing exposure, they have recommended liquidation of all the three nationalised banks.

Sir, this is a serious issue. Who are these people to recommend closure of these banks? They have not only recommended for the closure of these banks but also for liquidation of all three banks.

Sir, I reiterate that the Government is in the grip of the defaulters. I want the Government to publish the list of defaulters. The fact is that almost all these corporate sector people owe Rs. 45,000 crore to the nationalised banks. This is a serious issue.

Now, we are talking of liberalisation and globalisation; increasing the revenue of the nation. ... (Interruptions) These are the people who are taking shelter under it. Sir, this is a serious issue. The Government is shielding them. When Rome was burning, Nero was fiddling. The Government is fiddling with these industrialists. ... (Interruptions)

MR. SPEAKER: Is there anything from the Government side?

... (Interruptions)

SHRI T.M. SELVAGANPATHI : Sir, they are chasing the poor farmers for the pittance amount. ... (Interruptions)

MR. SPEAKER: Now, Dr. Dhani Ram Shandil.

COL. (RETD.) DR. DHANI RAM SHANDIL (SHIMLA): Sir, I am grateful that you have given a chance to speak in this House. I want to raise a point regarding up-to-date ... (Interruptions)

MR. SPEAKER: Nothing should go into record except what Dr. Dhani Ram Shandil is saying.


MR. SPEAKER: I have asked the Government also. There is no response. I cannot compel the Government to give a reply.

... (Interruptions)


* Not Recorrded.

MR. SPEAKER: Shri Selvaganpathi, please take your seat. You have taken more than five minutes. There are other Members who would like to raise their important matters. What is this?

... (Interruptions)

MR. SPEAKER: This is too much. There are other Members who would like to raise their matters.

... (Interruptions)

COL. (RETD.) DR. DHANI RAM SHANDIL : Sir, I want to raise a point regarding ... (Interruptions) Please sit down. ... (Interruptions)

MR. SPEAKER: I have asked the Government to respond. I cannot compel the Government.

... (Interruptions)

MR. SPEAKER: Is there anything from the Government side?

... (Interruptions)

SHRI RAJESH PILOT (DAUSA): Sir, a very strong point has been raised. Some assurance should be given to us. He has raised a point that they owe a sum of Rs. 800 crore to these nationalised banks and they want that these banks to be closed. ... (Interruptions)

MR. SPEAKER: What is this? Please take your seat.

... (Interruptions)

SHRI CHANDRA SHEKHAR : Mr. Speaker, Sir, it is not an ordinary matter. In the name of disinvestment and in the name of liberalisation, you cannot go on committing financial crimes. If what the hon. Member has said is correct--I have every reason to believe that he has said it correctly--the Government cannot just keep quiet. They should give a statement whether these facts are correct or not. Otherwise, it will be assumed by all of us that the Government is not only guilty of dereliction of duty but they are concealing the financial crimes. ... (Interruptions)

SHRI AMAR ROY PRADHAN (COOCHBEHAR): Why are you shilding Bharat Ram? ... (Interruptions)


SHRI RUPCHAND PAL (HOOGLY): Sir, this is a very serious matter. ... (Interruptions)

MR. SPEAKER: Shri Rupchand Pal, please take your seat. Now, the Minister.

... (Interruptions)

MR. SPEAKER: This is too much. You have raised a point and when the Government is replying, you are not allowing the Government to reply. ... (Interruptions)

SHRI PRAMOD MAHAJAN : Sir, I do not know who is Mr. Bharat Ram. ... (Interruptions)

MR. SPEAKER: You can all associate with what Shri Selvaganpathi has said.

... (Interruptions)

SHRI P.H. PANDIYAN (TIRUNELVELI): While associating with the matter raised by him, I ask the Government to place the list of defaulters, especially, of Indian Bank on the Table. ... (Interruptions)

MR. SPEAKER: Please take your seat.

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SHRI PRAMOD MAHAJAN: Thank God, you are not the Speaker in the House.

MR. SPEAKER: Shri Pandiyan, please take your seat.

... (Interruptions)

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SHRI RAJESH PILOT : It is for the House to note. The concerned Minister must come back with the information.

MR. SPEAKER: It is already replied please.

SHRI T.M. SELVAGANPATHI : Several crores of rupees have been withdrawn.

MR. SPEAKER: Shri Selvaganapathi, please take your seat.