Congress leader Gaurav Gogoi on Tuesday questioned the rising imports from China at a time when relations between the two countries are strained.

Initiating a debate on the Banking Laws (Amendment) Bill, 2024 in the Lok Sabha, Gogoi wondered how the trade deficit with China has increased when the government claims to have "no relations" with China since 2020.

Earlier today, External Affairs Minister S Jaishankar informed the House that India-China ties have been abnormal since 2020 when peace and tranquillity in border areas were disturbed due to Chinese actions.

"The external affairs minister said our relations with China are not same as earlier ... they are not normal. This government's left hand does not know what the right hand is doing," Gogoi said.

"The foreign minister says that ever since we have had clashes with China on border our relation is not same but how is that the import from China has increased... we are importing even more from China, trade deficit with China has increased... is this the proof?" he questioned.

The Deputy Leader of Congress also questioned the government over demonetisation and electoral bonds.

Without naming anyone, Gogoi alleged that a big billionaire company is trying to settle a case with SEBI for an amount of Rs 28 lakh.

"The companies which are failing to disclose their unfair practices, their penalties must be higher. Today a company is trying to settle a case with SEBI, big company big billionaire, you know how much settlement fees they are offering - Rs 28 lakh.

"Are they insulting the SEBI? Are they insulting the law? So our recommendation is to increase the penalties for companies which do not follow shareholding disclosure norms," he said.

"We must look at boards of institutions and regulators also that no such regulator or bank has any member who has a conflict of interest. The banking system today is unfair and broken. When it underwent nationalisation, the objective was to open bank branches in remote areas and to make banking accessible to the poor SC and STs and that is not happening today," he said.

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