Excelsior Correspondent
JAMMU, Mar 18: As a part of All India programme launched by UFBU, Jammu Province Bank Employees Federation (JPBEF) today held one hour demonstration against RBI’s new bank licensing policy to allow corporate and business houses to start banks at Shalamar Chowk.
Addressing the gathering, Arun Kumar Gupta, general secretary, JPBEF elaborated the inglorious and ignominious track record of the private sector banks in the past.
Recently, the world has witnessed the fall of private banks including the so-called giants.
Gupta added that in the recently held AIBEA’s 27th conference at Cochi, the participants demanded that all private banks in country should be brought under public sector.
But it is an irony that the Government, instead of strengthening the public sector banks are boosting and encouraging private sector banks and foreign and corporate investments in banks, he added.
The demonstrators demanded vibrant banking sector in country, which will serve the socio-economic needs of the people, keeping the basic national economic development in mind.
Arun Kumar Gupta appealed the Banks to deal with people’s money judiciously and it should be for the benefit of the common masses and not for private profiteering by the corporates.
Among others, who spoke were Ashwani Pradhan, Manjit Singh, TK Tikoo, Ganesh Kumar, RK Bamba, Anil Gupta, Avinash Dogra, Kamal Kumar, Vijay Zutshi, etc.
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