New Delhi: Union Finance Minister Nirmala Sitharaman has launched a major attack on former PM Manmohan Singh and former RBI Governor Raghuram Rajan. Sitharaman has carried out this attack on the bad state of public sector banks. She said that the condition of India's public sector banks was in the 'worst phase' during the time of former Prime Minister Manmohan Singh and RBI Governor Raghuram Rajan. In a lecture on Tuesday at Columbia University's School of International and Public Affairs, Sitharaman said it was her first job to give a 'lifeline' to all public sector banks.

She said that I respect Raghuram Rajan, he has been a good knowledge of economics, he was elected to the Central Bank of India when the condition of the Indian economy was bad. When asked about a recent statement made by Raghuram Rajan at Brown University, Sitharaman said the bank's debt was the highest during Rajan's RBI governor.

In fact, in his lecture Rajan had said that in his first term the Narendra Modi government had not done a better job on the economy, he had said that the government was more centralized and the leadership had no vision to improve the economy. The finance minister said that during Rajan's governorship that loans were given to politicians and public sector banks in India on the basis of a phone call, due to which the government has not been able to get out of it till date. Sitharaman said that I have full respect for Manmohan Singh and Raghuram Rajan, but it is true that the condition of public sector banks was the worst in their time.

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