IDBI row: Akhilesh cries 'EOS sale', Nirmala hits back
Finance Minister Nirmala Sitharaman fired back at Samajwadi Party leader Akhilesh Yadav's criticism of the IDBI Bank-Fairfax deal, accusing his allies of causing damage to public sector banks through phone banking and crony capitalism. Yadav had sarcastically remarked that the government was now planning to sell itself off, suggesting a Season End Sale as the BJP prepared for an exit.
Sitharaman countered that the United Progressive Alliance (UPA) government, backed by the Samajwadi Party, had left banks in a poor state when it was in power. She emphasized that the National Democratic Alliance (NDA) government led by Prime Minister Modi had revitalized the banking system through transparent policies and capital infusion.
Sitharaman further asserted that the NDA government's current stewardship was revitalizing the banking sector under the Union Cabinet's approval of the IDBI Bank-Fairfax sale, enabling the bank's growth through foreign direct investment while retaining a minority stake.
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