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Bhopal: BOI officials hold AGM, condemn privatisation

Demand 5-day work, new recruits to lessen load.

Staff Reporter | Updated on: Monday, May 09, 2022, 12:25 AM IST

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Bhopal (Madhya Pradesh): The privatisation of banks will destroy Indiaís dream of providing banking facility to the last person in the society, said the general secretary of Federation Bank of India Officersí Association (FBOIOA) of Madhya Pradesh and Chhattisgarh, Sunil Kumar.

Kumar was addressing the bankers at the annual general meeting of the federation.

'Private sector banks will be more concerned with their own interest than the socio-economic concerns of the country and society. No matter how many claims the government and RBI make, their control over private sector banks will be minimal,' he added.

He said privatisation could never fulfill the needs of the common people and society. It would harm the economy, he said. Kumar said that most of the default loans in banking sector were corporate loans and the banks had to repay them under government pressure.

So, the banks should get the right to get back the loan amount from the consumers to decrease the number of Non-Performing Assets. The federation has demanded to make fresh appointments and five-day banking system from the government.

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Published on: Monday, May 09, 2022, 12:25 AM IST