State level Seminar of Punjab Bank Employees’ Federation was held

Seminar was organized on the occasion of 50th Anniversary of Bank Nationalization Ludhiana, July 21, 2019: State level Seminar of Punjab Bank Employees’ Federation was held today on Sunday at Punjab Trade Centre, Ludhiana. More than 600 delegates from all corners of the State participated. This Seminar was organized on the occasion of 50th Anniversary of Bank Nationalization. Dr R S Ghuman, Professor, Centre for Research in Rural and Industrial Development (CRRID), Chandigarh, Dr Anupama Uppal, Professor of Economics Punjabi University, Patiala were the eminent speakers. Com P R Mehta, President, PBEF & General Secretary, AIPNBSF, Com S K Gautam, General Secretary, PBEF & Joint Secretary, AIBEA and Com Amrit Lal, Chairman PBEF & General Secretary JCC, AIBOBECC also addressed the bank employees. All India Bank Employees’ Association (AIBEA), decided to observe full week by organising various programs throughout the country in defence of Public Sector Banks in view of the Govt. policies to disinvestment and privatization of Public Sector Banks in the name of Banking Reforms. To take stock of the situation and to evaluate the contribution of Public Sector Banks in the development of our nation, this Seminar was held at State Level. Com S K Gautam, General Secretary, while placing the agenda of the Seminar told that it is the high time to make evaluation the progress of banking industry and development of the country. Branches Pre Nationalization of the banks was merely 8200 which are now 90765. Rural and Semi Urban branches did not exist at all but now are 54872, Priority Sector Loans were not at all were given and now are 40%. Deposits were merely Rs 5000 Crores and now are at 127 Lac Crores, loans were merely Rs 3500 Crores but now are at 85 Lac Crore. Green revolution, white revolution and development of infra structure was the outcome of Public Sector banks only. Unfortunately, instead of strengthening the public sector banks to achieve these laudable aims, the present day agenda is to pursue banking reforms like privatisation and amalgamation of banks. Com P R Mehta, President in his address told that Public Sector Banks are aimed to be handed over to big corporate by way of disinvestment who are responsible itself for bulging bad loans and huge losses in the Banks. Privatization of profit and nationalization of loss is the corporate policy. Banks are increasingly coming under the clutches of the big business. Our Banks are made to bleed and record losses because of the corporate defaulters. Banks belong to the nation. The money belongs to the people. Hence our slogan : ‘People’s money for people’s welfare and not for corporate loot’. It is our patriotic duty to strain every nerve to resist all the retrograde attempts of banking reforms and fight for policies that would strengthen our Banks. Dr R S Ghuman, noted professor in his key note address termed Nationalization of banks as ‘Banking Independence’ which not only channelized public money for productive purposes rather empowered the people to come out of the clutches of money lenders. Heavy industry, development of infra structure including roads, electricity, railways, communication etc. was possible only with the Public Sector Banks. Impact of ‘US Financial Crises’ did not affect Indian economy because of Public Sector banks only. Hence dilution in public character of the PSB’s will adversely affect the economy of our country and shall go against the inclusive growth and development. Dr Anupama Uppal, in her address congratulated Punjab Bank Employees’ Federation to hold the Seminar because it is high time to create public awareness to defend Nationalization of banks. PSB’s contribution in the development of the nation can only be defended by mobilising public support which can be possible with best customer service. Private Banks are doing selective and profitable business only, whereas Public Sector banks are doing priority sector advance and mass banking, hence nationalized banks are must for the development of our nation. Com Amrit Lal, while addressing told that mergers and amalgamation are step further to close Public Sector Banks whereas Govt says merger is to create bigger banks. After merger of Associate bank’s 7000 branches of SBI are closed and thousands of employees are given VRS in the name of consolidation. Same process will be adopted in Bank of Baroda then how the bigger banks will be created? Merger of banks is step further towards privatization hence it is required to defined nationalization of banks. Leaders of Punjab Bank Employees’ Federation including Com R K Walia, Sr. Vice President, Com Roop Lal Mehra, Com Ravi Razdan, Com Pawan Jindal, Vice Presidents, Com Dalip Pathak, Joint General Secretary, Com Naresh Gaur, Com Rajesh Verma, Com K C Sareen, Dy General Secretaries, Com Naresh Vaid, Com Jagdish Rai, Com Harvinder Singh, Joint Secretaries, Com Sanjeev Prashar, Treasurer, Com Lavleen Kumar, Com Dinesh Kumar, Com Ram Lal, Com R K Jolly, Asstt. Secretaries and other prominent leaders of PBEF were also present in the seminar.