SP chief Akhilesh Yadav posed 12 questions to the Centre on the banking sector's health, targeting issues like privatisation, fees on poor accounts, repeated KYC norms, loan defaults, rural banking access, and grievances of customers and employees.

Akhilesh Yadav Targets Centre with 12 Questions on Banking Sector

Samajwadi Party (SP) chief Akhilesh Yadav on Saturday targeted the Centre over the functioning of the banking sector, raising 12 questions concerning bank privatisation, charges on accounts, repeated KYC requirements, loan defaults, rural banking access and customer grievances.

In a post on X tagging the Department of Financial Services, Yadav questioned the government's claims about the strengthening of banks and sought answers on issues affecting ordinary citizens, farmers, students, small traders and bank employees. @DFS_India बारह साल, बारह सवाल 1. बैंक मजबूत हुए हैं तो फिर बेचे क्यों जा रहे हैं? 2. बैंक मजबूत हुए हैं तो ग़रीब जनता के खाते से पैसे क्यों काटे जा रहे हैं? 3. बैंक मजबूत हुए हैं तो बार-बार केवाईसी के नाम पर जनता के पैसे देने से इंकार क्यों किया जा रहा है? 4. बैंक मजबूत हुए हैं तो उन लोगों को पकड़कर देश में लाकर सज़ा क्यों नहीं दी जा रही है, जो बैंको से खरबों का लोन लेकर भाग गये हैं? 5. बैंक मजबूत हुए हैं तो फिर ग्रामीण इलाकों में ब्रांच और ATM बंद करके जनता को कैश के लिए क्यों भटकाया जा रहा है? 6. बैंक मजबूत हुए हैं तो फिर किसानों, छात्रों और छोटे दुकानदारों को बिना बिचौलिये और बिना गारंटर के लोन क्यों नहीं मिल रहा है? 7. बैंक मजबूत हुए हैं तो फिर साइबर ठगी का शिकार हुए गरीब आदमी का पैसा तुरंत वापस क्यों नहीं होता, उसे थाने और बैंक के चक्कर क्यों कटवाए जाते हैं? 8. बैंक मजबूत हुए हैं तो फिर होम लोन और शिक्षा लोन पर ब्याज इतना ज़्यादा क्यों है कि आम आदमी की कमर टूट रही है? 9. बैंक मजबूत हुए हैं तो फिर डिजिटल ट्रांजेक्शन फेल होने पर जनता का पैसा कई-कई दिन तक होल्ड पर क्यों रखा जा रहा है? 10. बैंक मजबूत हुए हैं तो फिर CIBIL स्कोर में छोटी सी चूक पर नौजवानों को डिफॉल्टर बताकर उनका भविष्य क्यों खराब किया जा रहा है? 11. बैंक मजबूत हुए हैं तो फिर बुजुर्गों और अनपढ़ लोगों को UPI और ऑनलाइन फ्रॉड से बचाने के लिए हर ब्रांच में सहायता काउंटर क्यों नहीं है? 12. बैंक मजबूत हुए हैं तो बैंक कर्मियों की जायज़ माँगे क्यों नहीं मानी जा रही हैं और बैंकों में नई भर्ती क्यों नहीं हो रही और मौजूदा कर्मचारियों पर इतना दबाव क्यों है कि ग्राहक सेवा ही चौपट हो रही है? — Akhilesh Yadav (@yadavakhilesh) October 17, 2026

Introducing his list of questions, the Samajwadi Party chief wrote, “ @DFS_India Twelve years, twelve questions”

Concerns on Privatisation, KYC and Loan Defaults

In his first set of questions, Yadav raised concerns over the alleged sale of banks, fee deductions from the accounts of poor people, repeated KYC requirements and the lack of action against borrowers who fled the country after taking large loans.

He also questioned the closure of rural branches and ATMs and the difficulties faced by farmers, students and small shopkeepers in accessing loans. Yadav wrote, “(1) If banks have become stronger, then why are they being sold off? (2) If banks have become stronger, then why are fees being deducted from the accounts of the poor public? (3) If banks have become stronger, then why is the public being refused their money in the name of repeated KYC requirements? (4) If banks have become stronger, then why aren't those who took billions in loans from banks and fled the country being caught, brought back, and punished? (5) If banks have become stronger, then why are branches and ATMs in rural areas being closed, forcing the public to wander around for cash? (6) If banks have become stronger, then why aren't farmers, students, and small shopkeepers getting loans without middlemen and without guarantors?”

Issues of Cyber Fraud and High Interest Rates

The SP chief also highlighted concerns over cyber fraud, high interest rates on home and education loans, and delays in resolving failed digital transactions. He questioned why victims of cyber fraud had to approach police stations and banks repeatedly to recover their money and why customers faced delays when digital payments failed.

Yadav, Member of the Lok Sabha from Kannauj, further added, “(7) If banks have become stronger, then why isn't the money of a poor person who falls victim to cyber fraud returned immediately, and why is he made to run around to police stations and banks? (8) If banks have become stronger, then why are interest rates on home loans and education loans so high that they're breaking the back of the common man? (9) If banks have become stronger, then why is the public's money held up for days when digital transactions fail?”

Impact on Borrowers, Customers and Employees

In the remaining questions, the 53-year-old drew attention to credit scores and their impact on young borrowers, the need for assistance counters to protect elderly and illiterate customers from online fraud, and the demands of bank employees. He also questioned the lack of fresh recruitment and the pressure on existing staff, alleging that these issues were affecting customer service.

“(10) If banks have become stronger, then why are young people being labelled as defaulters for the slightest mistake in their CIBIL score, ruining their future? (11) If banks have become stronger, then why isn't there an assistance counter in every branch to protect the elderly and illiterate from UPI and online fraud? (12) If banks have become stronger, then why aren't the legitimate demands of bank employees being met, why isn't there new recruitment in banks, and why is there so much pressure on existing employees that customer service itself is falling apart?” Yadav added.

(ANI)

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