{"id":667672,"date":"2026-10-15T20:17:50","date_gmt":"2026-10-16T00:17:50","guid":{"rendered":"https:\/\/www.malayalamdailynews.com\/english\/?p=667672"},"modified":"2026-10-15T20:29:37","modified_gmt":"2026-10-16T00:29:37","slug":"sitharaman-gives-befitting-reply-to-akhilesh-yadav-over-idbi-bank-stake-sale","status":"publish","type":"post","link":"https:\/\/www.malayalamdailynews.com\/english\/667672\/","title":{"rendered":"Sitharaman Gives Befitting Reply to Akhilesh Yadav Over IDBI Bank Stake Sale"},"content":{"rendered":"
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\"\"<\/a>New Delhi:<\/strong> Union Finance Minister Nirmala Sitharaman has launched a scathing attack on Samajwadi Party (SP) president Akhilesh Yadav over the proposed privatisation of IDBI Bank and the financial condition of public sector banks. Citing the poor state of the banking system during the United Progressive Alliance (UPA) regime, the Finance Minister also raised serious questions about the SP’s political support for the government at that time. She alleged that under previous governments, banks were grappling with serious systemic problems, including “phone banking” and crony capitalism.<\/p>\n

Earlier, Samajwadi Party chief Akhilesh Yadav had strongly criticised the central government through a post on the social media platform X. He wrote that all that remained for the government was to sell itself. The SP chief sarcastically remarked that the BJP government, realising that its shop was about to close, appeared to be looking to sell everything by putting up a “Season-End Sale” sign before making a hasty exit. His remarks came primarily in response to the proposed sale of the government’s stake in IDBI Bank.<\/p>\n

Countering his remarks, Finance Minister Nirmala Sitharaman pointed out that the Samajwadi Party had supported the UPA government since 2004. She said that before questioning the functioning and financial health of banks today, Akhilesh Yadav should also examine his own party’s political role during that period. Sitharaman alleged that during the UPA regime, banks indiscriminately extended loans to individuals and businesses, many of whom failed to repay the principal and interest, creating significant challenges for the banking sector that persist even today.<\/p>\n

Referring specifically to IDBI Bank, the Finance Minister clarified that difficulties in recovering certain old loans extended during the UPA era still persist. However, she did not disclose the names of any specific borrowers or the actual loan amounts in her statement. Sitharaman claimed that the National Democratic Alliance (NDA) government, led by Prime Minister Narendra Modi, has worked to revive and strengthen the entire banking system, including IDBI Bank, through transparent policies and well-planned capital investments.<\/p>\n

The Finance Minister questioned the opposition’s criticism, asking, “What is the basis for such unfounded concerns when the country’s banks are on a strong footing today and their financial condition is steadily improving?” She dismissed the opposition’s arguments as “crocodile tears.”<\/p>\n

The Finance Minister’s sharp response is likely to reignite a heated political debate over the country’s banking system, the recovery of long-pending loans, and the economic records of the previous UPA and current NDA governments.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Editing notes: Corrected spelling, grammar, punctuation, sentence structure, and the incorrect pronoun “He” referring to Nirmala Sitharaman. Improved the headline, reduced repetitive wording, and refined the article for a professional news-reporting style while preserving the original meaning and political statements.<\/p>\n","protected":false},"excerpt":{"rendered":"

New Delhi: Union Finance Minister Nirmala Sitharaman has launched a scathing attack on Samajwadi Party (SP) president Akhilesh Yadav over the proposed privatisation of IDBI Bank and the financial condition of public sector banks. Citing the poor state of the banking system during the United Progressive Alliance (UPA) regime, the Finance Minister also raised serious questions about the SP’s political support for the government at that time. She alleged that under previous governments, banks were grappling with serious systemic problems, including “phone banking” and crony capitalism. Earlier, Samajwadi Party chief…<\/p>\n","protected":false},"author":23,"featured_media":667673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47743],"tags":[],"class_list":["post-667672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/posts\/667672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/comments?post=667672"}],"version-history":[{"count":3,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/posts\/667672\/revisions"}],"predecessor-version":[{"id":667683,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/posts\/667672\/revisions\/667683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/media\/667673"}],"wp:attachment":[{"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/media?parent=667672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/categories?post=667672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.malayalamdailynews.com\/english\/wp-json\/wp\/v2\/tags?post=667672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}