Privatisation: Union seeks clarity from Fin Min; explains why privatisation of Bank of Maharashtra will hurt Maharashtra's economy

: Sunday, June 6, 2021, 5:35 PM IST
Privatisation: Bank union seeks clarity from Fin Min; explains why privatisation of Bank of Maharashtra will hurt Maharashtra's rural economy
Privatisation: Union seeks clarity from Fin Min; explains why privatisation of Bank of Maharashtra will hurt Maharashtra's economy
The United Forum of Mahabank Unions has written to the Department of Financial Services, under the Finance Ministry, to clarify if Bank of Maharashtra is among the banks to be privatised. The union went on to claim that the news of privatisation may hurt the bank as customers may start to withdraw deposits.
Union wrote the news around privatisation which is not been confirmed by the ministry is “creating confusion in the minds of the customers and it is every likelihood that based on this unauthenticated news customers of Bank of Maharashtra may withdraw their deposits and this is possible more particularly in the state of Maharashtra where Bank of Maharashtra has network of more than one thousand branches and more than half of its business comes from the state of Maharashtra.”

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