Speaking at a state-level summit here, BEFI General Secretary Pradeep Biswas said, "There are no serious efforts to recover the banks' money with the defaulting big corporates. Their assets should be confiscated."
"Our data also suggest that Rs 50,000 crore NPA is related to big borrowers who have borrowed over Rs 10 crore and above. Why are the banks silent over this? This is public money," he added.
"The limit of private shareholding in nationalised banks has been raised to 49 per cent. Now the private shareholders are demanding proportionate voting rights equal to their stake, which was earlier limited to just 1 per cent and then increased to 10 per cent. This is a very dangerous trend and is an indication that they want to establish their control over banks," Biswas said.
He further said the Indian banking industry survived through the global crisis when huge multi-national banks failed because they were not in private hands.