Sharad Pawar, PM Modi hold meeting on 'issues of national interest'

NCP supremo Sharad Pawar on Saturday met Prime Minister Narendra Modi to flag concerns over RBI regulation of urban cooperative banks and discuss the emerging Covid-19 situation and the ongoing vaccination drive across the country.

Pawar's meeting with Modi lasted for nearly 50 minutes and the former Defence Minister insisted that politics was not on the agenda of the meeting.

“Had a discussion on various issues of national interest,” Pawar said referring to his meeting with the Prime Minister.

The NCP supremo is also learnt to have flagged concerns over the Reserve Bank of India gaining direct supervision over urban cooperative banks, including superseding board of directors after consultation with the state government.

In a memorandum to the Prime Minister, Pawar said the RBI control of urban cooperative banks amounted to “excessive regulation” and overruled various provisions of the state Cooperatives Act.

Pawar said the amendments to the Banking Regulation Act, approved by Parliament in September last year, were “well-intentioned” and “many provisions were necessary”.

“Erring Board and Management must definitely be acted upon strictly and the depositors’ interests should be protected, but at the same time it should be ensured that while doing so, the Cooperative Principles laid down in the Constitution are not sacrificed at the altar of overzealous regulation,” Pawar said.

Modi and Pawar also discussed ways to step up the vaccination drive against Covid-19.

The octogenarian leader has had a slew of meetings since Saturday when the newly appointed Leader of the Rajya Sabha Piyush Goyal called on him. Pawar also had a meeting with Defence Minister Rajnath Singh who briefed him about the situation on the border with China.

NCP spokesman Nawab Malik, addressing a press conference in Mumbai, dismissed reports that the meeting between Pawar and Modi was linked to the rumblings within the Maharashtra Vikas Aghadi government in the state.

Malik also dismissed reports of a meeting between former Maharashtra chief minister Devendra Fadnavis and Pawar.