The government should introduce another round of nationalisation in the country even when there are talks of consolidation, the All India Bank Officers' Confederation (AIBOC) said today.
"The government should introduce third round of nationalisation whereby the old generation private sector banks are nationalised," AIBOC General Secretary G D Nadaf said on occasion of its silver jubilee celebrations here.
The nationalisation of old generation bank would further the objective of financial inclusion as these banks have branches in the rural and semi-urban region, he said.
The government first nationalised 14 private sector banks in 1969 and later in 1980 another six such entities were nationalised.
Nadaf also said that pay package of public sector banks employees should be attractive and comparable to private sector banks to retain the talent.
At the same time, he said that the bank should also consider increasing retirement age of employees to 62 years from existing 60 years to meet the manpower shortage.
Besides, the government should allow corporate sector to enter into the banking space as these entities venture with profit objective, he said.
These entities once they get the banking licence would only serve the rich and mighty and poor people would be left to fend for themselves, he added.
