Stop politicising financial sector, Congress tells BJP

New Delhi, Nov 22 (UNI) The Congress today came down heavily on BJP leader L K Advani for his criticism of the leadership of Prime Minister Manmohan Singh and the handling of the economic situation in the context of the global economic slowdown, and asked the main Opposition party to stop politicisation of the financial sector.

"This is the time when the entire country should unite to face the global economic turmoil," AICC Media Department head M Veerappa Moily told mediapersons, while highlighting the unity among the political parties in the United States and Other countries.

Lambasting the ruling UPA for offering 'weak government and a failed leadership', BJP's prime ministerial candidate Advani said yesterday that the country could not afford to put up with such a system when the clouds of economic uncertainty and threats of insecurity were looming large.

Mr Moily said Dr Singh was considered to be a globally-renowned economist. The financial regulations in India were also quite strong, a factor which was acknowledged by the United States and other counties.

He said India had been maintaining stability because of the fact that it had maintained separation between banks and other financial institutions.

Referring to the criticism against nationalisation of banks by former Prime Minister Indira Gandhi, Mr Moily said the country withstood the ravages of the global economic slowdown only because of the credible banking and insurance system which was contributed by the nationalisation.

"Nationalisation of banks provided a stable banking environment system. There was no anarchy in the financial system only because of the nationalisation of the banking and insurance sector. The credit for this goes to Indira Gandhi and Dr Manmohan Singh." Saying that capitalisation with the banks was the highest in India now, Mr Moily pointed out that there was a capitalisation of over 12 per cent as against the international level of nine per cent.

"This is the time that we do not fight against each other on the question of finances. This is the time to come together and work out solutions, " he said.

On the doubts expressed about the Anti-terrorism Squad (ATS) of Maharashtra which had unearthed the involvement of Right Wing Hindu organisations in the Malegaon blasts, Mr Moily said the ATS was the 'most credible body." In this context, he said, "We don't want to link up religion with terrorism." Asked why Mr Advani was alledgedly trying to discredit ATS, he said "that is the agenda of communalisation." Asked if the Congress was in favour of an inquiry into the Batla House encounter, in which two terrorists were killed, Mr Moily said, "It is a sensitive issue. Concern has been raised about the incident. It should be addressed." UNI SH BDP KN1815