Demanding withdrawal of the P J Nayak Committee report recommending total privatisation of public sector banks, various bank unions today held demonstrations in Kerala.
Members of All India Bank Employees' Association, All India Bank Officers Association, Bank Employees Federation of India (BEFI), Indian Nation Bank Employee's Federation, and INBOC participated in the demonstration.
In a statement, C D Josson, General Secretary of the All India Bank Employees' Association (Kerala) said RBI-appointed committee recommended privatisation of public sector banks (PSBs) by reducing the government's capital to less than 50 per cent, their merger and transfer their ownership to an investment company.
The committee had also called for repeal of Bank Nationalisation Act-SBI Act-SBI Subsidiary Act.
The recommendations were a 'sad commentary' on the wisdom of the committee, the statement said.
More than four lakh crores of bad loans were due from the big private corporate and business enterprises. "We strongly condemn the retrograde recommendations of the Nayak Committee and demand its outright rejection," the employees union said.
AIBEA will be organising countrywide demonstrations, rallies and other protest programmes demanding the rejection of the report. If the report is not rejected, a strike call would be given, it said.
