Nation Current Affairs 25 Aug 2016 See banking consolid ...

See banking consolidation from people's perspective: Kavitha

Published Aug 25, 2016, 3:17 pm IST
Updated Aug 25, 2016, 3:19 pm IST
TRS MP Kalvakuntla Kavitha (Photo: Facebook)
 TRS MP Kalvakuntla Kavitha (Photo: Facebook)

Hyderabad: TRS MP Kalvakuntla Kavitha said objectives of consolidation among public sector banks (PSBs) need to be redefined keeping in view people's interests rather than only focusing on financials.

The Lok Sabha member from Nizamabad in Telangana said on a broader note, pruning and merger of banks not managed well with bigger and better managed ones and reorganisation and consolidation in the sector made sense and added that the objectives need to be redefined.

"But my sincere worry is how will they (mergers and consolidation among PSBs) serve the local population? How will they serve rural farmers. So the discussion should also be more from people's perspective, not only in (financial) numbers," she said.

"...because for a government bank the social obligation of providing financial assistance to a person who cannot have access otherwise is more important. He can't approach a private financial institution. My worry is that," Kavitha, Telangana Chief Minister K Chandrasekhar Rao's daughter, said.

Asked for her views on Armed Forces (Special Powers) Acts and whether it should be continued or abrogated, she said, "Quite difficult because there are certainly human rights violations when we consider these could be northeast or Kashmir or wherever, there is a little high-handedness of Army that has been reported. We don't have to hide these facts."

"But the issue is whether as a country are we in a position to withdraw it (Army) because unless you find a viable political solution, we simply can't withdraw the Army and leave these sensitive areas open.”

"So, that is also an issue although it hurts us very much but I think it has to be a very deliberate move and it can't be a knee-jerk reaction the demands (on abrogation of AFSPA)", Kavitha said.

Location: India, Telangana, Hyderabad


More From Current Affairs