Banks represent the precious savings of the people and hence it is imperative that the government should be the custodian of the banks and the people’s money therein, United Forum of Bank Unions said.
Briefing reporters, the convener Srinivas alleged that successive governments have attempted to weaken nationalised banks, despite the said financial institution having contributed immensely.
According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 4,86,800 crore and it was resolved at Rs 1,61,820 crore resulting in a loss of Rs 2,84,980 crore.
The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years.
The Unions have given a call to organise massive demonstrations by bank employees all over the country on May 9, 2018.