Comments
The United Forum of Bank Unions (UFBU) has called upon all unions of bank employees to organise protest meetings/demonstration after working hours on May 21 to condemn the recent recommendation of a Reserve Bank of India panel in favour of privatisation.
It may be recalled that last week P J Nayak panel had recommended that public sector banks should be privatised by brining the Government stake below 50 per cent.
"Many private sector banks in the country have collapsed in the past due to mis-management and fraudulent practices. Hence, public sector banks should not be privatised,’’ M V Murali, Convenor, UFBU, said in a release issued here.
Banking services were accessible to the commoners only because of public sector banks, which were also ensuring credit flow to sectors such as agriculture, rural development, women empowerment and hence, they should instead be strengthened, he said.
The UFBU also demanded that all private sector banks should be nationalised.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.