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Provident Fund rate cut another surgical strike: Congress

Banks not police stations, they are meant to provide services, says Randeep Singh Surjewala.

New Delhi: The Congress on Monday hit out at the government for changing the EPFO (Employees’ Provident Fund Organisation) rates and rules for exchanging the old currency several times since the demonetisation.

“The rules on the demonetisation have changed 125 times since it was initiated. Now banks will carry out an inquiry for deposit of over Rs 5,000. Banks not police stations, they are meant to provide services,” said Congress communications in-charge Randeep Singh Surjewala. Accusing the Centre of not having a clear policy, he also hit out at the government for reducing the interest rates on EPF. “The Modi government has carried out a double surgical strike on the common man. After the demonetisation, it has reduced interest rate on EPF from 8.8% to 8.65% — the demonetisation on one hand and ‘attack’ on the EPF on the other, the government is hurting the common man.”

Taking on the issue of digital economy, Mr Surjewala alleged the e-wallet company, which got permission by the Modi government, is directly benefiting from the demonetisation at the cost of the common man. He claimed that “if Rs 100 flows 20 times using this e-wallet, the value of that Rs 100 will become zero because 5 per cent is already charged by the company”.

Claiming that over 100 people have died outside banks and ATMs since November 8, he asked the PM, “Who is accountable for this?” Party vice-president Rahul Gandhi, at his rally in Jaunpur, Uttar Pradesh, on Monday also targeted the PM over the issue. Mr Gandhi would hold several rallies in Uttar Pradesh, Uttarakhand, Gujarat and Himachal Pradesh.

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