"Common people deposit their savings in their bank accounts either in the form of term deposits or keep it in their savings accounts. They pay taxes. The Narendra Modi government is going to introduce this bill through which it would enable banks to grab common people's deposits without their consent or approval," said the MP, who is also nephew of West Bengal Chief Minister and Trinamool supremo Mamata Banerjee.
He said there was no difference between the BJP leaders and those like Saradha Group head Sudipto Sen, now under arrest for his involvement in the ponzi scam.
"(Prime Minister) Narendra Modi and (BJP chief) Amit Shah are trying to usurp the money of people, just like chit funds. If Sudipto Sen has been arrested, why won't steps be taken against BJP leaders?
"As long as Trinamool is in existence, we will not allow FRDI Bill to be passed. The Bill has already been referred to a Select Committee. We will fight till the end," he said.
Refering to the Gujarat polls, Banerje said though the BJP managed to scrape through, it came up with its worst performance in 22 years.
"They even lost in Narendra Modi's hometown. This only show s BJP will be voted out in 2019; their death knell has been rung," he said.
Mamata Banerjee has described the bill as the "biggest assault" on financial security of the poor and the middle classes and shot off a letter to union Finance Minister Arun Jaitley demanding the legislation be withdrawn.
The FRDI Bill, 2017, introduced in the Lok Sabha on August 10, 2017, is being considered by a parliamentary committee.
Commenting on Abhishek Banerjee's remarks, BJP state President Dilip Ghosh said, "They do not know what is in the bill. They are misleading people with making such comments. They are afraid of BJP's progress in the state and are targeting our party President Amit Shah and Prime Minister Narendra Modi. This is a sign of their failure."
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.