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Reconsider bank licences for corporates: Finance panel to Govt

Congress heir-apparent Rahul Gandhi is rapidly emerging a headache for the Manmohan Singh Government than even the BJP Prime Ministerial candidate, Narendra Modi. On a day Gandhi stunned the Government by condemning its Ordinance to protect convicted lawmakers from disqualification as “wrong”, it has emerged that he also lent his weight to a Parliamentary panel’s report asking the Government to reverse another key initiative — the proposal to allow the private sector to run banks. 

The Finance Ministry’s ambitious plan to allow the entry of industrial houses into the banking sector, a move which has been supported by both Prime Minister Manmohan Singh and Finance Minister P. Chidambaram, has been strongly opposed by the Parliament’s Standing Committee on Finance.
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