Today, the 3 largest private sector banks, ie ICICI-Bank, HDFC-Bank, and AXIS-Bank, - all three used to be government banks, but in the PV Narasimha Rao government, Dr.Manmohan was the Finance Minister Singh sold them!
The full name of ICICI was Industrial Credit and Investment Corporation of India. It was such an institution of the Government of India, which used to give loans to big industries.
In a jiffy, Finance Minister Dr. Manmohan Singh disinvested it, made it private, and renamed it ICICI Bank!
The full name of HDFC Bank as it is today was Housing Development Corporation of India. It used to be such an institution of the Government of India, which used to provide home loans to middle class citizens at cheap interest!
Dr. Manmohan Singh, who was the finance minister in the Narasimha Rao government, said, "The government's job is only to govern, not sell home loans!"
Dr. Manmohan Singh calls this a necessary step, and says, "The job of the government is only to run the government, not run a bank, or give loans!"
And in a jiffy, Finance Minister Dr. Manmohan Singh sold HDFC Bank! And it became a private sector bank!
One such interesting story is from Axis Bank!
There used to be an organization of the Government of India, its name was Unit Trust of India. This organization was formed to promote small savings. That is, you could deposit a small amount in it!
Dr. Manmohan Singh, Finance Minister in the Narasimha Rao government said, "The job of the government is not to run the scheme of chit fund!"
And in a jiffy it was sold out! Earlier it was named as UTI Bank, and later it was named as Axis Bank!
Similarly today there is IDBI Bank, which is a private bank! At one time it used to be an organization of the Government of India, whose name was Industrial Development Corporation of India! Its function was to give loans to industries. But Dr. Manmohan Singh sold it too! And today it has become a private bank!
Never let your memory be weak!
Who brought the disinvestment policy to India? Just do a search!
When Dr. Manmohan Singh was the Finance Minister during Narasimha Rao's time, Dr. Manmohan Singh said in Parliament, "Maximum government, less governance!"
He had said, "The job of the government is not to do business, the job of the government is to give governance! Such an environment is to be given, so that the citizens of the country can do all these things!"
Dr. Manmohan Singh was the first to bring "Toll Tax Policy"! i.e. "Build roads by private companies, and allow those companies to collect toll tax!"
Dr. Manmohan Singh initiated the "Privatization of Airports" first, and Delhi's "Indira Gandhi Airport" was given to GMR Group to run it commercially!
Today Champak dances and dances, singing the impeccable melody, "Modi has sold it to his friends!"
If Dr. Manmohan Singh does it - disinvestment! And if Modi does - sold the country!!
In 2009-10, Dr. Manmohan Singh sold 5 government companies!
1. HPC Ltd.;
2. OIL - Oil India Limited;
3. NTPC - National Thermal Power Corporation;
4. REC - Rural Electrification Corporation;
5. NMDC - National Mineral Development Corporation!
In 2010-11, Dr. Manmohan Singh sold 6 more government companies!
1. SJVN - Satluj Jal Vidyut Nigam Limited;
2. EIL - Engineers India Limited;
3. CIL - Coal India Limited;
4. PGCIL - Power Grid Corporation of India;
5. MOIL - Manganese Ore India Ltd.;
6. SCI - Shipping Corporation of India!
In 2011-12, Dr. Manmohan Singh sold two more government companies!
1. PFC - Power Finance Corporation;
2. ONGC - Oil & Natural Gas Corporation!
In 2012-13 Dr. Manmohan Singh sold and 8- Government companies!
1. SAIL - Steel Authority of India Ltd.;
2. NALCO - National Aluminum Company Limited;
3. RCF - National Chemicals and Fertilizers;
4. NTPC - National Thermal Power Corporation;
5. OIL - Oil India Limited;
6. NMDC - National Mineral Development Corporation;
7. HCL - Hindustan Copper Limited;
8. NBCC!
In 2013-14, Dr. Manmohan Singh sold 12 more government companies!
1. NHPC - National Hydro-Electric Power Corporation;
2. BHEL - Bharat Heavy Electricals Limited;
3. EIL - Engineers India Limited;
4. NMDC - National Mineral Development Corporation;
5. CPSE - CPSE-Exchange Traded Fund;
6. PGCI - Power Grid Corpof India Limited;
7. NFL - National Fertilizers Ltd.;
8. MMTC - Metals and Minerals Trading Corporation;
9. HCL - Hindustan Copper Limited;
10. ITDC - Tourism Development Corporation of India;
111. STC - State Trading Corporation;
12. NLC - Neyveli Lignite Corporation Limited!
There is proof of all this...
1. Visit the official website of the Department of "Investment and Public Asset Management" by the Ministry of Finance, Central Government - www.dipam.gov.in
2. First click on Dis-investment! Then click on Past Dis-Investment!
3. All the information (data) given in the post is available there!
Made this post to open the eyes of those citizens who think that Modi is selling the country! Modi is selling the country, Dr. Manmohan Singh has already sold the country!
In Congress language, Dr. Manmohan Singh sold 26 government companies in 5 years in 2009-14
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