To celebrate 50th Year of Nationalisation, Punjab Bank Employees Federation and All India Bank Officers' Association hold meeting in Ludhiana

Ludhiana, July 19, 2018: To celebrate 50th Year of Nationalisation, Punjab Bank Employees Federation and All India Bank Officers' Association held a meeting at Central Bank of India, Industrial Area Branch, Ludhiana.

Com.Naresh Gaur, Secretary, Com.Pawan Thakur, President, Com.Harvinder Singh, Sr.Vice President, Com.Rajesh Verma and Com. Parveen Moudgil, Vice Presidents, Punjab Bank Employees Federation (Ludhiana Unit) and Com.Gurmeet Singh from AIBOA addressed the meeting.

On this occasion, leaders of the Federation said that Bank Nationlisation was achieved through fights. Because of that, today people's deposits in banks are safe. Before that hundreds of private banks collapsed and people lost their money. Bank nationlasiation enabled banks to give loans to agriculture, employment generation, poverty reduction, rural development, education, women empowerment, small and medium industries. Public setor banks are saviours of people's savings. Bank Nationalisation resulted in Branch Expansion, Branch Expansion resulted in mass recruitment. In 1969, total bank employees were one lac and now are 10 lacs.

They said from 1991 to 2017, in 27 years, 41 days strikes have been organised against Banking Reforms and Privatisation of Banks. There was Global Financial Crisis in 2008. Private Banks in USA and many countries collapsed. In India, Banks were safe because of Public Sector Banks and our strong Regulations. Public Sector Banks are nation Building Institutions. They represent the hard earned savings of common people. Hence Banks must remain in Public Sector to safeguard people's money. We oppose Privatisation of Banks. Public Sector Banks transformed Class Banking to Mass Banking. We demand to make Banking a Fundamental Right and Banking for All. India is a developing economy. We want expansion of Banking. We oppose Branch Closures, Bank Mergers and Consolidation. We demand to Strengthen and Expand Public Sector Banks. Willful defaulters of bank loans are criminals. Take criminal action. Attach all their properties and recover the bad loans. We want recovery not resolution. People's money is for people welfare. National Savings are for National Development. Not for Private Sector loot.

“On this occasion, we pledge to improve customer services, enlist People's support. Save Public Sector Banks. Save Economy, Save Nation. It is our patriotic duty”, they said.