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New Delhi6 hours ago
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Finance Minister Nirmala Sitharaman, while presenting the general budget earlier this month, announced a plan to privatize two public sector banks.
- Under the banner of United Forum of Unions, about 1 million bankers and officials demonstrated against the government’s proposal
- The United Forum of Unions consists of nine unions, AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO
Bank unions staged a sit-in in all state capitals on Friday to protest against the government’s privatization plan. If their demands are not met, they will march to Parliament in March. This was said by the All India Bank Employees Association (AIBEA).
Finance Minister Nirmala Sitharaman had earlier this month announced the plan to privatize two state-run banks while presenting the general budget. AIBEA said that under the banner of United Forum of Unions, about 1 million bankers and officials are protesting against the government’s proposal. The United Forum of Unions consists of nine unions. These unions are AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
There is a plan to protest in front of Parliament on March 10
AIBEA said that after Friday’s picket, the bank unions will perform across the country in the next 15 days. On March 10, we will hold a sit-in demonstration in front of Parliament during the budget session. After this, on 15 and 16 March 2021, 10 lakh employees and officers of banks will go on strike for two consecutive days.
Plan for indefinite strike also
The organization said that if the government goes ahead with the privatization plan, we will speed up our performance and go on a long-term and indefinite strike. We demand that the government reconsider its decision. Union said that after the independence of the country, no private bank came forward for the economic development of the country. This led to the governmentalization of major private banks in 1969.
After the governmentization of banks, the number of branches increased from 8,000 to 1 lakh
Since then, banks have played an important role in the development of the country. In 1969, the banks had only 8,000 branches. Today there are one lakh branches across the country. Many of these branches are in rural areas. AIBEA said that between 2010 and 2020, public sector banks achieved a total profit of Rs 14,57,000 crore.
The only problem of bad loan banks
AIBEA Secretary General CH Venkatachalam said that the only problem of banks is bad loans. Most of the bad loans belong to companies and wealthy industrialists. By not taking action on them, the government wants to privatize banks and hand them over to them.
Private bank is also not free from problems
About private sector banks, Union said that many of them have sunk. Yes Bank was in trouble last year. Recently Lakshmi Vilas Bank was bought by a foreign bank. AIBEA said that we have seen a crisis in ICICI Bank. Therefore it cannot be assumed that private banks are more efficient. Only public sector banks give loans to common people, agriculture sector and small scale industries. Private banks only lend to the corporate sector.
146 lakh crores of total deposits of common people in banks
Venkatachalam said that banks have a total of Rs 146 lakh crore, which is the hard-earned money of the common people. We cannot allow the private sector to play with the savings of common people. If the government is serious about the economic development of the country, it should strengthen the public sector banks.
Number of public sector banks reduced from 27 to 12 in 3 years
In 2019, the government handed over control of IDBI Bank to LIC. In 2020, 10 public sector banks were merged to form 6 large-sized banks. In 2017, there were 27 government banks in the country. Today their number has come down to 12.