Union of officers of banks said, the threat of privatization is hovering over public sector banks

Banks Privatization: Privatization of public sector banks is under threat. This is to say of All India Bank Officers Confederation (AIBOC) which is the union of bank officers. Union believes that public sector banks have played an important role in removing economic discrimination in the society, yet there is a danger of privatization of public sector banks.

On the occasion of 55th Bank Nationalization Day, All India Bank Officers’ Confederation (AIBOC) said that public sector banks have played a major role in financial inclusion and attracting savings since their nationalization in 1969. AIBOC General Secretary Rupam Roy said that the sword of privatization is hanging over public sector banks. He said that this is a fight of ideology which can be overcome only by supporting such an ideology which cares for the interests of the larger population.