New Delhi, India: November 21, 2008 – IR Summary/IBN -  CPI has assailed the remarks made by Congress President Sonia Gandhi's remark on bank nationalisation at the HT Leadership Summit.

CNN-IBN's Smita Nair caught up with General Secretary, CPI A B Bardhan at the summit.

A B Bardhan: She (Sonia Gandhi) did refer to bank nationalisation but that was a substitute reference. She at the same time said that they will stick to part of liberalization, the liberalization but not without regulation.

I am only trying to remind her that her Finance Minister continuously has been trying to see that denationalization takes place. For long they argued with us in the coordination committee that let the equity in the national banks come down to 51 per cent.

I am reminding you of all that. When you are 51 per cent, it is only the next step to reach 49 per cent. They have been trying to reverse everything that was done before including Indira Gandhi's nationalization of banks. If the Indian financial sector has not become like the part of the US financial sector, it is because we stood in the way. Let them be honest enough and admit that.