KOTTAYAM:The All India Bank Employees Association here has announced that it will collect as many as one crore signatures from the public for a massive petition to be submitted to the Prime Minister demanding to fortify the public sector banks in the country.
The nationalised banks are endowed with the responsibility of boosting the economic development of the nation. They are also bound with duties of providing agricultural loans without interest, and in order to meet those ends the public sector banks are to be strengthened, the association said.
The association claimed that it was the public sector banks that supported the Indian economy when the global economy was beaten down in the 2001-08 period.
In view of that any move to destroy the public sector banking and replace it with private banking system would be fought with nail and tooth, said the association officials.