The All India Bank Employees’ Association (AIBEA) has condemned a suggestion by industry body Assocham to privatise public sector banks (PSBs).
“The devil should not quote scriptures. We [wish to] advice Assocham to ask private sector corporate defaulters to repay loans to public sector banks,” C.H. Venkatachalam, general secretary of AIBEA, said in a statement.
In the light of the recent PNB scam, Assocham had said that the government should surrender its majority control of banks, which should be allowed to function like private sector lenders.
In a separate statement, the AIBEA also said that the government should keep the top management of Punjab National Bank away from the bank until the probe into the fraud was completed. It also a demanded a parliamentary probe into the scam.
“It will be prudent for the government to step in and keep out the entire top management and higher officials from the bank until the probe is completed and accountability is fixed,” Mr. Venkatachalam added.
