| JPBEF takes out protest, opposes PJ Naik Panel report | | | Early Times Report
Jammu, May 23 : Under the banner of Jammu Province Bank Employees Federation, a demonstration was taken out today to oppose the RBI's PJ Naik Panel Report on privatization of Public Sector Banks.
While addressing the gathering Comrade Arun Kumar Gupta, General Secretary, Jammu Province Bank Employees Federation highlighted the recommendations of the P J Nayak Committee to go back to pre-1969 model of private sector banking.
The demands highlighted by the Federation included capital reduction to less than 50 %, merger of Public Sector Banks, Keep PSBs out of CVC, RTI Act, ownership of Government Banks should be transferred to an Investment Company, Government should not issue any regulatory instructions to Banks, Bank Nationalization Act should be repealed and Banks should be covered by Companies Act, Government should not appoint any Directors in the Banks. Investment Company will do that, RBI Nominee Directors in the Banks should step down, Voting rights of shareholders should be increased from 10 % to 26 %.
Comrade Ashwani Pradhan, President PNBOA informed the gathering that we should learn lessons from other countries. It is very strange that in the last one decade, when world over many private banks have got into crisis and have collapsed, in India, attempts are being made to hand over Government Banks to private hands.
Those who addressed the demonstration included Com. Vijay Zutshi, Com. Ganesh Kumar, Com. R.K.Bamba, Com. Manjit Singh, Com. Sumrita Kher, Com. Vinod Gupta, Com. Nazir Ahmed,Com. T.K.Tikoo, Com. Dr. Muhammad Ashfaq and others. |
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