Excelsior Correspondent
JAMMU, Feb 19: United Forum of Bank Unions (UFBU), an umbrella organization of 9 unions/associations representing officers and workmen in the Banking Industry in the country, today observed day-long dharna against privatization of public sector banks in front of Circle office of Punjab National Bank at Rail Head Complex, Jammu.
A large number of officers and employees of all banks participated in the protest dharna. They denounced Government’s moves to privatize public sector banks and vowed to put up a sustained fight against such moves.
Addressing the protesting bank officers and employees, Vishal Verma, J&K president of AIBOC, said that Government has embarked on a plan to merge public sector banks which is a covert move to eventually privatize public sector banks.
“Finance Minister Nirmala Sitharaman during her Budget speech earlier this month announced plans to privatize two nationalized banks and LIC of India,” he said, adding, this move of the Government will have dangerous consequences as it will not only destroy the entire public sector in the country but is also sought to ease out a strong public sector industry into private hands clandestinely.
Verma said that public sector banks, over the years, have played a vital role in the growth of the economy and have functioned as a robust arm of the Government in implementing Government sponsored economic programmes.
Citing figures published by Department of Financial Services (Government of India) of the total 29.09 crore Jan Dhan accounts opened in the country till date, of which 28.15 crore accounts were opened by PSBs and RRBs alone while a huge network of Private Banks has opened just 94 lakh accounts till date, he said with such a dismal performance on the socio-economic front, these banks can’t be trusted to bring about the desired economic revolution in the country.
“Government plan to privatize public sector banks is fraught to set the clock back by moving back to class-banking from the current mass-banking scenario. In public interest, in people’s interest and in the country’s interest, we oppose privatization of public sector banks,” said Harinder Arora, J&K secretary of AIBOC.
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