Privatisation of banks is an anti-thesis to ‘Atma Nirbhar Bharat’ and bank unions would fight attempts to privatise any public sector bank, said an union office bearer.
“It is ironical that when the association released the names of 2,400 wilful bank loan defaulters, who are all private companies, news comes that public sector banks would be privatised. It is nothing but handing over these banks to the same private companies [that] are defaulters,” said C.H. Venkatachalam, general secretary, All India Bank Employees’ Association (AIBEA).
Recalling the mismanagement of ICICI Bank under the leadership of former CEO, he said: “Here there is a case for nationalisation of private banks. But unfortunately, there are talks of privatisation.”
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While opposing the privatisation move, he said: “Privatisation is not the solution to the problems of public sector banks. On the other hand, recovery of huge loans given to private corporate companies, is. We need to take stringent measures to recover these bad loans and save our banks.”