Free Press Journal

No privatisation: Finance Minister Arun Jaitley assures bank union


Mumbai: More than 50,000 bank employees and officers participated in a march to Parliament in New Delhi on September 15. Post the march, the bank union submitted their demand to the finance minister Arun Jaitley and he assured that privatisation of banks will not take place. AIBEA, joint secretary, Devidas Tuljapurkar told Free Press Journal, “We have been assured that government will keep 52 per cent stake in banks. It will not privatise banks.”

Even though there was no written statement by the finance minister Arun Jaitley or the ministry, Tuljapurkar said that the government as assured that there will be no privatisation. Sitaram Yechury CPIM was the representatives of agitating unions who met Jaitley and handed over memorandum on their demands.

But the minister could not share the position of the government on consolidation and merger, stated bank union official. The bank union representatives have given the letter to Jaitley and banking secretary.