Shark Tank India fame Ashneer Grover called taxpayers in India a ‘meaningless minority’ and shared numbers on X which highlighted that only 0.5% of voters pay any meaningful Income Tax.
Shares of Kotak Mahindra Bank on 25th April declined nearly by 12 per cent after the RBI barred the firm from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect.
Former managing director of BharatPe Ashneer Grover reacted to the downfall of Kotak Mahindra Bank’s share price and made a sarcastic comment and said how banks can’t handle IT related issues and fintech can’t handle banking.
Ashneer Grover On Kotak Mahindra Bank Shares
While reacting on the news which stated that #KotakMahindraBank shares plunge 10% after RBI bars onboarding customers digitally. Ashneer Grover said in hindi, “LOL ! Irony: Banks se Tech nahi ho rahi. Fintech se Banking nahi ho rahi (banks can’t manage tech; Fintech can’t manage banking).”
While referring to the fact that fintech can’t handle banking, without taking the name of the Paytm he indirectly also made a comment on RBI’s action on Paytm Payments Bank, which was barred by RBI in February.
Netizens Reaction On Ashneer Grover Post
One user thought that now it’s a Time for Banks X Fintech Collab together. Another wrote ,”Indian finance ministry needs a young tech-driven minister who can understand how fast this world of finance is changing.”
One user who seems irritated by the online banking faults, said “Seriously… waiting for one bank who is really complied with digital solutions and banking needs too..!!”
Ashneer Grover On Indian Tax System
Ashneer who is also vocal against the Indian Tax system and has already spoken against it publicly many times. In his recent post, calling taxpayers a minority, he highlighted how in election campaigns, politicians talk about the Tax system and later on can easily get away with it.
He wrote, “You need to understand ‘Tax Politics’ in India. 8/140 crore file IT Return. 2/140 crore Indians pay Income Tax. Only. 45 Lakh of them contribute 80% of this Income Tax. Total 97 crore voters. Do the maths – 0.5% of voters pay any meaningful Income Tax. So you can say anything on tax in a political rally and get away with it – tax payers is the meaningless minority as far elections are concerned.”