Bank-consumer forum to oppose privatisation

Aurangabad, July 30:

The central government is planning to privatise public sector banks (PSBs). To oppose this and create awareness among the consumers, the Maharashtra State Bank Employees Federation has established bank-consumer forum.

The federation has launched an extensive campaign against privatisation. This includes online lectures, audio-visual displays, putting up posters for public awareness, making the general account holders financially literate and involving them in this campaign. Devidas Tuljapurkar, general secretary of the federation, said that now bank employees and customers would come together and put pressure on the central government to save public sector banks. The government is trying to amend the Banking companies Acquisition and Transfers of Undertaking Act and Banking Regulation Act that might be disruptive to the country's economy. Under this initiative, member would involve general public about the possible harms of privatisation and also seeking their support in opposing such decisions.