National Organisation of Bank Workers (NOBW) demanded the Central Government to reconsider its agenda of banking reforms in present global financial crisis. In a statement issued in New Delhi, NOBW general secretary Shri Ashwani Rana said in a developing country like India the banking sector is dealing about Rs. 35 lakh crore of hard earned savings of the common masses, any dilution of the Government'scontrol and any diversion in the social objectives of the banks would be catastrophic and unwarranted. ?What we demand is to strengthen public sector banks and better banking services and facilities to the common people and more credit to the needy sectors?. Shri Rana said further adding that it is very ironical that at a time when even in the USA, private financial giants are collapsing and the Government is compelled to go for their rescue by huge bail out operations, in India there are advocacies for opening up the public sector banks to the vagaries of private corporate enterprises.
(FOC)
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