Centre is not privatizing all banks: Finance Minister reacts to bank strike

Centre is not privatizing all banks Finance Minister reacts to bank strike

Reacting on nationwide bank strike Union finance minister Nirmala Sitharaman has assured the bank employees that not all public sector banks will be privatised now and if the centre decides to do it, the interest of the employees will be protected.  Addressing the media amid a two-day nationwide bank strike the Union Prime Minister called said, “The decision of Privatization is a well thought out decision. We want Banks to get more equity… We want banks to meet the aspirations of the country”.

The nationwide strike was called by nine unions against the proposed privatization.

“Those banks which are likely to get privatised, the interest of every staff member will be protected. Interest of existing employees will be protected at all cost,” said Sitharaman.

Also Read: Nationwide bank strike enters Day 2: Major banking services affected, Details inside

“Public sector enterprise policy very clearly says that we will continue with PSBs. Interests of the workers will absolutely be protected,” she added.

Public sector Banks across India were shut on Saturday and Sunday. On Tuesday, key banking operations across the country were hampered by the strike. Around 10 lakh bank employees likely participated in the strike.

Also Read: All India Bank Strike: SBI branches, ATM services likely be hit

The strike was called against the government’s plan to privatise two public sector banks as part of its disinvestment drive to generate Rs 1.75 lakh crore. During the budget, the minister had announced a deadline for the overall disinvestment project — completion of the Financial Year of 2022.

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