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Strengthen state-owned banks

D. Raja

After the recent Punjab National Bank fraud, demands are coming from the Associated Chamber of Commerce and Industry (Assocham) and the Federation of Indian Chambers of Commerce and industry (Ficci) that nationalised banks should be privatised and denationalised.

Even the government’s chief economic adviser Arvind Subramaniam has said that the time is ripe to privatise state-owned banks.

It is important to note at this point that initially all banks in our country were in the private sector. Even when India gained Independence, in 1947, all banks were private. In 1950, when we became a republic and the government worked out the process of planned development, it realised that funds were...

The Polit Bureau of the Communist Party of India (Marxist) expresses its grave concern at the alarming rise of levels of crony capitalism under this BJP government and Prime Minister Modi. One after another chosen corporates’ who have defrauded people’s money and manipulated the system are allowed to leave the country before facing the law of the land.

 

The latest in this...

The Central Secretariat of the Communist Party of India (CPI) issued following statement to the press:

The Communist Party of India deplores the decision of the Cabinet Committee on Economic Affairs to open up coal mining for Indian and foreign companies in the private sector.

At a time, when the country is confronting huge scams in banking sector, the Modi government instead of owning up...

The Polit Bureau of the Communist Party of India (Marxist) condemns the decision taken by the Cabinet Committee on Economic Affairs to open up coal mining to Indian and foreign companies in the private sector. This is part of the aggressive pursuit of neo-liberal economic policies by the Narendra Modi government.

 

Till now the private sector was permitted to mine the fossil fuel only...

A delegation comprising of CPI(M) Polit Bureau members S. Ramachandran Pillai and Brinda Karat met the Chief Election Commissioner Shri. O. P.

Rawat today for expressing concerns over the appointment of special observer in Tripura.  The delegation submitted the following memorandum to the CEC:

 


"This is to draw your attention to the appointment of Shri R. K.

Panchananda...

The Polit Bureau of the CPI(M) expresses its deep concern at the grave implications of the “Ram Raj Rath Yatra” flagged off yesterday at Ayodhya in Uttar Pradesh.  This rally was flagged off by the RSS-affiliated VHP General Secretary in the presence of Faizabad BJP MP, Ayodhya’s BJP Mayor and other BJP leaders.

 

 

The yatra is supposedly to retrace the...

The Polit Bureau of the Communist Party of India (Marxist) dips its banner in salute to veteran communist and trade union leader Comrade Mohd. Amin.

Comrade Mohd. Amin died this afternoon. He was ninety years old.

Mohd. Amin was born in Kolkata to poor parents who had migrated from Varanasi, Uttar Pradesh.

Lack of formal education and poverty led Amin to start work at the young age of 14...

Shri Nilotpal Basu, member of the Central Secretariat of Communist Party of India (Marxist) met Chief Election Commissioner, Shri Om Prakash Rawat, today at the Election Commission office on the question of holding peaceful, free and fair elections to the Tripura Assembly.
 
The discussion was cordial and the CEC assured to look into concerns raised by the Party as detailed out in the...

The Central Secretariat of the Communist Party of India (CPI) issued following statement to the press:

Prime Minister Narendra Modi’s speech in Parliament thanking the president is more like a BJP leader’s routine election speech than the speech of the PM.

Prime Minister is a constitutional authority and is expected to speak with dignity and decorum. He misused the platform of the...

The statement by the Defence minister in Parliament with regard to the agreement for the Rafale fighter planes is completely unacceptable.

Ever since the deal was renegotiated there have been several reports that allege that the price being paid for the planes in question is much higher than what had been decided in the earlier agreement.

The plea taken by the Defence Minister that the...

On 2nd February 2018 the Supreme Court of India has sought a response from Union of India and the Election Commission in the petition filed by the CPI

(Marxist) challenging the constitutionality of the introduction of Electoral Bonds by the Finance Act, 2017.

 The Finance Act, 2017 amended four different statues, namely the Reserve Bank of India Act 1934, The Representation of Peoples...

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