'PM Modi looted public's hard earned money through banks', alleges Congress chief Mallikarjun Kharge

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₹ 500 and ₹ 1,000 banknotes. ALSO READ: Justice Nagarathna questions demonetisation's impact on black money eradication: '98% currency came back' In a post on X (formerly known as Twitter), Kharge noted three ways in which the PM Modi-led government is allegedly using the banking sector to loot people of the country. "Modi saheb, banks play a major role in the country's economy, and you have used banks to destroy the unorganized sector and MSMEs...the public's hard-earned money has been looted through banks," he said.

In one of three points, Kharge said, "In the last four years, your government looted ₹35,000 crore from the public's pocket for not maintaining minimum balance in banks." He mentioned that during the Congress-UPA government in 2012, the charge on Monthly Average Balance was abolished. However, "the Modi government started collecting it again in 2016," Kharge said. "Modi government imposed a tax on withdrawing and depositing one's own money from ATM/Bank," the Congress chief added.

Kharge also alleged that the BJP government did not waive off the loans of farmers, but “waived off loans worth ₹19 lakh crore of big businessmen in the last six years". "In the last 6 years alone, the Modi government has written off loans worth more than ₹3 lakh crore of willful defaulters. Why?" he asked.

Kharge said, "20% of Jan-Dhan accounts are lying inactive...People will not forgive" the BJP in this election!" Kharge's statement came just ahead of the Lok Sabha Elections 2024. Earlier in the day, PM Modi said India needs to increase its economic self-reliance in the next 10 years to mitigate the impact of global crises, and make rupee more accessible and acceptable throughout the world. He was addressing the opening