CITU district general secretary A. Ramamohan on Saturday called for the success of the nationwide strike on September 25 opposing the new licensing policy to facilitate banking reforms, their merger and setting up of banks by corporate companies.
The banks in the country, at present, have deposits to the tune of Rs. 73 lakh crore and advances of Rs. 57 lakh crore and the the government was bowing to pressure to permit international financial capital and corporate companies in the country to exercise control on the vast financial resources, Mr. Ramamohan said.
As a result, the United Progressive Alliance (UPA) government proposed weakening of public sector banks and lift curbs to allow market forces to control the banks, he said.