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All India Bank Employees' Association demands nationalisation of ICICI Bank, Axis Bank in view of recent scams

AIBEA demands Union Government to Nationalise ICICI Bank and Axis Bank as there are serious charges of corruption and nepotism in sanction of loans.

Published: 14th April 2018 10:38 AM  |   Last Updated: 14th April 2018 10:38 AM   |  A+A-

Image used for representational purpose only. (File Photos | Reuters)

By UNI

HYDERABAD: All India Bank Employees' Association (AIBEA) has demanded the Union Government to Nationalise the ICICI Bank and Axis Bank as there are serious charges of corruption and nepotism in sanction of loans.

In a statement here on Saturday, AIBEA General Secretary Ch Venkatachalam said everyone is by now aware what is the reality about the so called champions of Private Sector Efficiency in ICICI Bank and Axis Bank.

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Both these Banks together have Deposits of the public to the tune of Rs 9 lakh crore. We need to safeguard this public money. They ( government ) talk about better governance in private Banks. ICICI Bank was projected as a role model.

What happened to that now. There are serious charges of corruption and nepotism in sanction of loans. Mr Venkatachalam said, ''There are repeated suppression of bad loans and under provisioning. All these unethical things are going on for a long time. Just changing the top Executives will not suffice'', he added.

It is high time that Government should come forward to Nationalise ICICI Bank and Axis Bank, the top Union leader said.



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