Trinamool takes out rally against FRDI bill

The youth wing of the Trinamool Congress on Friday hit the streets protesting against the Financial Resolution and Deposit Insurance (FRDI) Bill, saying the hard-earned bank deposits of the people would be at risk once the legislation was passed.

Led by Trinamool Youth Congress national President Abhishek Banerjee, thousands of workers of the organisation took part in a rally from Jadavpur to Hazra in south Kolkata.

In his address on the occasion, Banerjee said: "If FRDI Bill is passed, the hard-earned deposits of people in banks would be at risk."

"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poor and the middle classes and shot off a letter to union Finance Minister Arun Jaitley demanding the legislation be withdrawn.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.)

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