Mangalore: Bank Employees Association urges union to drop proposal of privatization of banks
Bellevision Media Network
Mangalore, 19 Jul 2014: The Karnataka state unit of Bank Employees Federation of India urged the union government to drop the proposal of privatization of banks.
B M Madhav, the joint secretary of the state unit of Bank Employees Federation of India, in a media conference here on Saturday July 19 gave a call to save the banks.
Madhav said, ‘After the nationalization of banks, public sector banks have performed remarkably well. They have withstood the global financial meltdown in western countries and Europe wherein major financial institution of these countries had to be shut down. It has not affected the banks in India. RBI report shows that as of March 2012 the complaints per branch of the public sector banks are less than that of the private banks as well as the foreign banks.’
As a motive to earn more profits to the banks the government along with the management of the banks is trying to unsettle the basic architecture of the banks by paving the way for the privatization. Already the some of the services have been outsourced and the union central government has reduced its holdings to 51 percent, added Madhav.
Madhav further said, ‘This will not only hamper the basic principles of Indian banking and take away the power to face the global crisis. The union government along with some of the political parties in the parliament and off parliament will fight to prevent the privatization of the banks,’
The state Committee members Rajesh Achar and B V Giri were present at the occasion.