Fair Lending
The government’s proposal to clamp down on unauthorised private lending practices signals a decisive move to tackle unregulated financial activities that have long preyed on vulnerable segments of the population.
Congress President Sonia Gandhi's son-in-law Robert Vadra on Monday attacked the Centre for lack of management after the petrol pumps across the country threatened to stop accepting payments through credit or debit cards.
Vadra said there was lack of coordination between banks and the government.
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"The government seems to have reached its levels of desperation to overcome the initial blunder it created through the unplanned and unthought process of demonetisation," Vadra said on Facebook.
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"First government offered sops to push people to use debit or credit cards, and when people started using more of cashless means, now lack of coordination with banks and their policies is forcing petrol pump owners to adopt these drastic steps," he said.
Vadra's remarks come amid the threats from the All India Petroleum Dealers Association to stop accepting credit or debit cards from Monday in protest against additional charge of upto 1 per cent on card transactions.
"What was the whole meaning to offer 0.75 per cent discount and then banks start charging MDR (merchant discount rate) 1 per cent from petrol pumps?" he asked.
"I dont see any rational, do you?" Vadra questioned.
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