Not all banks are going to be privatised, says Sitharaman amid nationwide bank strike ANI | Updated: Mar 16, 2021 17:15 IST
New Delhi [India], March 16 (ANI): Union Finance MinisterNirmala Sitharaman on Tuesday said that not all banks are going to be privatised, adding that the interests of workers of banks, which are likely to be privatised, would also be protected. We have announced a Public Enterprise Policy where we have identified four areas where public sector presence will be there. In this, the financial sector is there too. Not all banks are going to be privatised. Interests of workers of banks which are likely to be privatised will absolutely be protected whether their salaries or scale or pension, all will be taken care of, said Sitharaman while addressing a press conference after attending a meeting of the Cabinet Committee of Economic Affairs (CCEA).
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Sitharaman Allays Concerns Of Bank Employees, Assures not All Banks Will Be Privatised
Nine unions of Public Sector Banks (PSBs) called for a two-day strike across the country against the government s policy to privatise the lenders.
Issuing a response to the ongoing strike by bank employees, Union Finance Minister Nirmala Sitharaman on Tuesday assured that not all banks will be privatized. Asserting that the interests of bank workers will be protected, the Finance Minister allayed concerns of bank workers by stating that their salaries and pension will be taken care of . Nine unions of Public Sector Banks (PSBs) called for a two-day strike across the country against the government s policy to privatise the lenders.
Further, stressing on the operations of banks Sitharaman said that there are quite a few banks in the economy but we need banks which will be able to scale up.
Recollecting the move where the government had merged 10 PSU banks into 4 major entities last year, she said: We need more banks of the size of the State Bank of India (SBI) to meet the aspirational needs of the country.
She emphasised that even those banks which are likely to be privatised, the institutions too will continue to function after privatisation.
The minister also took a jibe at senior Congress leader Rahul Gandhi s tweet earlier in the day where he had accused the government of privatising profit and nationalising loss .
Read more about Not all banks will be privatised, interest of workers to be protected: FM on Business Standard. Even for those banks which are likely to be privatised, the privatised institutions too will continue to function after privatisation, the interests of the staff will be protected, said Sitharaman
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Union Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha, during the Budget Session of Parliament, in New Delhi.
Amid bank strike over the proposed privatisation of the public sector banks, Union Minister Nirmala Sitharaman on Tuesday said not all banks are going to be privatised adding the interests of the employees will be taken care of. We have announced a Public Enterprise Policy, where we have identified 4 areas where public sector presence will be there, in this, the financial sector too is there. Not all banks are going to be privatized, she said. Interests of workers of banks which are likely to be privatized will absolutely be protected - whether their salaries or scale or pension, all will be taken care of, Sitharaman added.