Telangana: Government asked to roll back banks selloff

Mahabubnagar: The All Indian Bank Officers Association (AIBOA) members from Mahabubnagar district staged a one-day protest in the district, demanding that the central government shun the idea of privatising the banks in the country. Speaking at the protest, C Kiran Kumar, the AIBOA zonal secretary, said that the central government was on a spree to privatise all the profit-making public sector organisations in the country and by doing so, it was ruining the PSU sector which had been serving as the backbone of the nation and contributes to nation building for the past seven years. "The central government is planning to privatise all the banks in the country. Already it had reduced the number of public sector banks from 27 to just 12 by merging various banks. And now, it is further planning to reduce these banks 6 and has decided to sell off profit-making banks to private sectors. This will be a great blow to the employees in particular and the general public at large in the country. We are demanding that the government give up its idea of privatising the banks and restore all the public sector companies which are formed by our constitution," he said.

Under the umbrella of AIBOA, all the employees of various banks came together on Thursday and staged a protest, expressing their dissent against the privatisation of PSBs and other PSUs in the country. They warned to intensify the agitation if the government did not take back its decision.