Excelsior Correspondent
JAMMU, July 19: United Forum of Bank Unions (UFBU), an umbrella organizations of nine unions/ associations representing officers and others in the Banking industry in the country observed “Save Public Sector Day” and held protest today.
A protest was held in this connection by the members of UFBU at Zonal office of SBI, Rail Head complex Jammu. They termed the move of the Government as anti-people and anti-employee of the Public Sector Undertakings. The bank staff held demonstration against Government.
It was on this day in the year 1969 that 14 banks in the country were nationalized. To commemorate the anniversary of the Red Letter day, rallies were organised by the Bank employees and officers across the region. Government has embarked on a plan to merge Public Sector Banks. Government is going to table the Financial Resolution and Deposit Insurance Bill in the Monsoon session of the Parliament, which envisages to vest sweeping powers with the Government empowering them to liquidate any public sector enterprise including SBI, LIC, GIC, Public Sector banks etc.
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.
The UFBU members said that Banks and other Public Sector undertakings are contributing a lot in the growth of the country. They should not be allowed to go into the private hands.
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