<p>The government is following the principle of "nationalising of losses" and "privatisation of profits" by asking the State Bank of India to bail out Yes Bank, according to Maharashtra's apex banking employees' federation.</p>.<p>"They (government) have asked public sector SBI to bail out private sector Yes Bank," said Maharashtra State Bank Employees Federation general secretary Devidas Tuljapurkar. The MSBEF demanded that the government should book the management of Yes Bank and make it accountable for the mess. </p>.<p>"The corporates who have looted the bank should be put behind bars," he said. Tuljapurkar said the RBI with its action of moratorium has created panic with the depositors but in the market everybody was contemplating on the background why RBI had not intervened before.</p>.<p>"RBI also should be made accountable. On the background RBI should carry out special inspection of all the private sector banks. If SBI can bail out Yes Bank then why not PMC, Pen Urban or Rupee Bank. What sin depositors of those banks have committed? On the background revival of FRDI Bill will lead to insecurity with the bank depositors and adversely affect on rate of savings which may have far reaching effect on economy," he said.</p>.<p>"This is utter failure of neo liberal policies on which government should revisit at least now," he added.</p>
<p>The government is following the principle of "nationalising of losses" and "privatisation of profits" by asking the State Bank of India to bail out Yes Bank, according to Maharashtra's apex banking employees' federation.</p>.<p>"They (government) have asked public sector SBI to bail out private sector Yes Bank," said Maharashtra State Bank Employees Federation general secretary Devidas Tuljapurkar. The MSBEF demanded that the government should book the management of Yes Bank and make it accountable for the mess. </p>.<p>"The corporates who have looted the bank should be put behind bars," he said. Tuljapurkar said the RBI with its action of moratorium has created panic with the depositors but in the market everybody was contemplating on the background why RBI had not intervened before.</p>.<p>"RBI also should be made accountable. On the background RBI should carry out special inspection of all the private sector banks. If SBI can bail out Yes Bank then why not PMC, Pen Urban or Rupee Bank. What sin depositors of those banks have committed? On the background revival of FRDI Bill will lead to insecurity with the bank depositors and adversely affect on rate of savings which may have far reaching effect on economy," he said.</p>.<p>"This is utter failure of neo liberal policies on which government should revisit at least now," he added.</p>
