Staff plan ‘defeat bank privatisation day’ on July 19

The All India Banks Employees’ Association (AIBEA) which represents five lakh bank employees, has decided to observe 19 July, which is the 45th anniversary of bank nationalisation, as ‘all India day to defend bank nationalisation and defeat privatisation of public sector banks’.

Opposing the NDA government’s move to ‘consolidate’ banks and ‘reform’ the banking system, AIBEA general secretary C H Venkatachalam said that such a remedy is ‘worse than the disease’.