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Bank Officers Unions Oppose Allowing All Private Banks In Govt Business
Private banks can now be equal partners in development of the Indian economy, furthering Govt s social sector initiatives, and enhancing customer convenience.
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Bank officers unions on Thursday opposed the Centre s decision to allow all private sector banks to participate in government business, including collection of taxes, pension payments and small savings schemes.
In a tweet on Wednesday, Finance Minister Nirmala Sitharaman had said, Embargo lifted on grant of Govt business to private banks. All banks can now participate. Private banks can now be equal partners in development of the Indian economy, furthering Govt s social sector initiatives, and enhancing customer convenience.
Four officers’ unions in banking sector caution government about privatisation
January 31, 2021
Say privatisation, dilution of government equity, further mergers and amalgamations of PSBs coud face resistance
The four officers’ unions in the banking sector have cautioned the government that any step towards privatisation, dilution of government equity and/or further mergers and amalgamations of Public Sector Banks (PSBs) would face stiff resistance.
The resistance would not only be from the four unions but also from all the major stakeholders, according to a letter written by unions to the Finance Minister.
The four officers unions are the All India Bank Officers’ Confederation (AIBOC), the All India Bank Officers’ Association (AIBOA), the Indian National Bank Officers’ Congress (INBOC) and the National Organization of Bank Officers (NOBO).
The letter said, We are happy that these commendable services were duly taken note of by the government when their services came in for high appreciation by your goodselves as well as by our respected Finance Minister (Nirmala Sitharaman).
This representation urges to you to include bank employees and officers under the prioritised category along with other COVID-19 warriors for the purpose of vaccination, it urged Modi.
Last month, all four bank officer unions demanded for inclusion of bankers as frontline COVID-19 warriors so that they can be administered the vaccine on a priority basis, given their importance in keeping wheels of the economy running.