NOBW opposes closing of rural banks

Coming down heavily on the Government move to close or relocate the lose making branches of banks in rural areas, the National Organisation of Bank Workers (NOBW) termed the move diametrically opposed to the very object of nationalisation of Banks in 1969. The United Front of Bank Unions (UFBU) has lodged a protest against this retrograde move through a letter addressed to Secretary of Financial Services. “The thinking of the Government to close the loss making rural branches or relocate them is fraught with the potential threat to the social banking, depriving millions and millions of people living in the rural side access to institutional credit. We request you to re-visit the idea and continue to extend support to the rural branches,” the UFBU said in a letter addressed to the Secretary, Department of Financial Services.?