Banks Privatization AIBOC said that since nationalization in 1969 public sector banks have played a major role in financial inclusion and attracting savings.
Privatization is under threat on government banks . This is to say of All India Bank Officers Confederation (AIBOC), which is the union of bank officers. Union believes that public sector banks have played an important role in removing economic discrimination in the society, yet there is a danger of privatization of public sector banks.
On the occasion of 55th Bank Nationalization Day, All India Bank Officers’ Confederation (AIBOC) said that public sector banks have played a major role in financial inclusion and attracting savings since their nationalization in 1969. Key’s. AIBOC General Secretary Rupam Roy said that the sword of privatization is hanging over public sector banks. He said that this is a fight of ideology which can be overcome only by supporting such an ideology which cares for the interests of the larger population.
Rupam Roy said that since nationalization, public sector banks have been providing funds to agriculture, MSMEs, education and infrastructure. The All India Bank Officers Confederation said that public sector banks have worked to promote economic development through their services, as well as their role in providing employment to crores of people has been a pillar.
Rupam Roy said that the government is the largest shareholder in public sector banks and the government is the biggest beneficiary of the dividends received from the profits of public sector banks. He told that in SBI there are 1900 customers per employee while in HDFC Bank this number is 530 and in Axis Bank it is 325. Before 2017, there used to be 27 public sector banks in the country. Whose number has come down to 12 after the merger. The government is pursuing the target of privatization of two national banks.
