BENGALURU: Jawaharlal Nehru University (JNU) prof Surajit Majumdar on Saturday emphasised the importance of public sector banks, and advocated for a monopoly of public sector institutions at a seminar.
Amanulla Khan, president, All India Insurance Employees Association (AIIEA), expressed concern over PM Modi’s recent comment, terming nationalisation of banks carried out in 1969 under the Indira Gandhi government a ‘fraud.’
Prof Majumdar said a thrust towards privatisation of financial institutions posed a challenge to the public sector.