Menon mentioned that the credit flow in the private sector is the lowest in the last 11 years, which is 9.83 percent only.
He also criticised the Finance Minister for his claim that the amount of loan defaulters will see no rise whereas it has been increased to Tk 22,000 crore in the last one year. “The steps he has taken to reduce the amount of loan defaulters are pro-businessmen, not pro-banking sector or pro-economy,” he said.
Menon demanded that a list of money launderers like the loan defaulters be published.
He put emphasis on constituting a Bank Commission to bring discipline in the banking sector. He is also in favour of scrapping the rules to remain nine members of a family in the board of directors of a bank.
The Workers’ Party president demanded that the property of bank looters be confiscated and exemplary punishment be meted out to them.
He urged the government to take effective steps to ensure proper procurement of Boro paddy and fix its price.
Menon suggested making it through cooperatives and amending the law to free it from bureaucracy.