'Some Day They Will Say Wind Up LIC, Banks, Post Offices': Mamata Hits Out At BJP Over Adani Row

West Bengal CM Mamata Banerjee said that people could lose money because of the SBI and LIC's exposure to the Adani Group.

West Bengal CM Mamata Banerjee said that people stood to lose money because of the Adani Group.

West Bengal Chief Minister Mamata Banerjee on Thursday voiced her concerns over the safety of people's deposits in banks, post offices, and the Life Insurance Corporation (LIC). She warned that the existence of these institutions could be in jeopardy in the future.

Her comments came amid the recent allegations of business malpractice against the industrialist Gautam Adani's conglomerate, which was exposed in a Hindenburg Research report. The report claimed that the state-owned lender, State Bank of India (SBI), and insurer, LIC, have exposure to the conglomerate.

Speaking at an event in Panchla, West Bengal, CM Banerjee said: "The public invests its hard-earned money in life insurance and bank deposits, which is then used to dole out loans to various business houses." "But the central government has no money to fund the 100-day job guarantee scheme in West Bengal," she said, claiming that her government had not received Rs 7,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) from the Centre.

The chief minister also expressed her anger at the BJP-led NDA government's decision to withhold money for various welfare schemes in the state. She urged the central government not to deprive poor people and provide the dues that are owed to them. She stated that her government has created 10 lakh workdays and made payments from the state's funds. Banerjee also pointed out that funds for 11 lakh houses under the Prime Minister Awas Yojana are still pending.

Banerjee also expressed her disappointment with the central government for claiming the bulk of the credit for the funds meant for the scheme, even though the state government bears 40% of the share. She stated that the money is theirs, as it is collected as Goods and Services Tax (GST), and the central government should not withhold their share. The Trinamool Congress supremo emphasized that she will not allow the division of Bengal or entertain any divisive forces.

(With inputs from PTI.)