The Hindu Business Line : Banking reforms: Left parties take issue to PM

LEFT parties on Thursday expressed their opposition to the Government on the decision to introduce a Bill to lift the 10 per cent voting rights cap in private sector banks.

At a meeting with the Prime Minister, Dr Manmohan Singh, senior Left leaders said that they were "not satisfied" with the discussions held earlier with the Finance Minister, Mr P. Chidambaram, on the issue. They told the Prime Minister that they would oppose the present draft of the Banking Reforms Bill.

The Left parties also expressed their opposition to the reported moves to allow foreign direct investment in the pension sector.

They demanded a CBI enquiry into the sale of two Centaur hotels - Juhu Centaur and Airport Centaur - in Mumbai during the previous National Democratic Alliance Government.

The meeting, during which the Left leaders were appraised of the progress of the implementation of the promised made in the Common Minimum Programme during the first year of the Government, was attended by Mr Prakash Karat, CPI (M), Mr A.B. Bardhan, and Mr D. Raja (CPI), Mr Abani Roy (RSP).

The United Progressive Alliance Chairperson, Ms Sonia Gandhi, also attended the meeting along with the Defence Minister, Mr Pranab Mukherjee, and the Minister of State in the Prime Minister's Office, Mr Prithvi Raj Chouhan.

It has now been decided to hold another meeting of the UPA-Left Coordination Committee on May 18 to discuss the progress report of the Government.

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