JOIN USRs 80 lakh-crore public money at risk if PSBs are privatised: UFBU
A day after Prime Minister Narendra Modi signalled a move to privatise PSU banks, the United Forum of Banking Unions (UFBU), the apex bank employees union, claimed that Rs 80 lakh crore hard-earned money belonging to the people is at stake.
“Today, Indian banks are facing biggest challenge of Non-Performing Assets in which share of corporate is more than 70% who are daydreaming to be the owner of those public sector banks, and it is most unfortunate that Prime Minister is facilitating it,” UFBU Convenor Devidas Tuljapurkar said.
According to him, it may prove to be disastrous since it will put more than 80 lakh crore hard earned savings of the common man at risk.
He also said that under the banner of UFBU, bank employees will undertake a two-day strike on 15-16 March.
“India is still confronted by poverty, unemployment, hunger, there is acute economic disparity and geographical imbalances. There is a need to implement social sector lending schemes in which the private sector banks hardly contribute,” said Tuljapurkar.
He pointed out that in the implementation of the Jan Dhan Scheme, the share of private sector banks is less than 5 per cent and its share is insignificant for other schemes like Mudra, Swadhan, Stand UP India, Make In India, etc. which are intended for employment generation.