Finance Minister Nirmala Sitharaman during her Budget speech earlier this month announced plans to privatise two public sector banks.
Banking sector enters danger zone with non-stop increase in bad loans: All India Bank Employees Association
The CCBIFU Chairman said the latest is the IBC a Insolvency and Bankruptcy Code. The BJP-led NDA Government has brought this as a mechanism to deal with bad loans.
Meanwhile, none of the five ATMs checked in the Pondy Bazaar area had cash and the scenes were similar in Nandanam with long queues in front of almost every ATM.
AIBEA General Secretary said ever since PNB-diamantaire Nirav Modi's Scam came to light, there has been strong voice from different corners demanding privatisation of PSBs
The government should step into the ongoing PNB fraud case and keep out top management and officials until the probe is complete and accountability fixed, bank union AIBEA demanded today.