Morung Express News
Dimapur | June 13
Stating that the privatisation of banks would have adverse effects on the farmers, students and common people, the All India Bank Officers’ Confederation (AIBOC) has opposed the move of the government to privatise or merge Public Sector Banks (PSUs).
Addressing media persons in Dimapur on Tuesday, AIBOC general secretary D. Thomas Franco Rajendra Dev said that country like India needed more banks as banking services have not reached in many parts of the rural areas.
He said after nationalisation of banks in the 1960s, the role played by Indian banking sector in nation building has been tremendous and appreciable.
Instead of going for merger, the government should take serious action on Non-Performing Assets (NPAs) and implement the recommendation of Parliament Standing Committee on finance, he added.
“The need of the hour is to strengthen the public sectors banks,” he said. Thomas said that when small businesspersons and common people were not getting the credit in this condition, then the privatization of banks would create further impact on the common people.
He said that the demand of AIBOC was that government should address the issue of recovery of NPAs and infusion of required capital in Public Sector Banks.
AIBOC secretary, who also met with the state bank officials, has also agreed to take up the problems faced by them at the national level. Thomas also met the members of Business Association of Nagas (BAN), where they highlighted the problems faced by them especially in getting loans to start new enterprises. It was informed that the secretary agreed on the suggestion of BAN members in opening a centre in Dimapur, which he said would help the entrepreneurs to avail the credit.
