Note ban failed to achieve desired results due to banks, says Nitish

Note ban failed to achieve desired results due to banks, says Nitish

PATNA: Bihar chief minister Nitish Kumar has said India failed to reap benefits of demonetization owing to “non-cooperative” role of the banks.

Kumar made these remarks at the 64th state-level bankers meeting held here on Saturday.

Despite being in the opposition Grand Alliance then, Kumar had strongly supported the demonetization implemented by Prime Minister Narendra Modi.

“The biggest responsibility for success of demonetization drive rested with bankers but everyone knows how a major portion of unaccounted cash got deposited in the banks,” Kumar told the meeting on Saturday.

Kumar also questioned the different yardsticks for different people being adopted by banks for providing loan.

“Affluent people are fleeing the country after procuring hefty loans of Rs10,000 crores whereas the common men are finding it hard to get a loan of even few lakhs,” the chief minister said.

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