Unions thank Dr Karad for scrapping rumours on BoM privatization

Aurangabad, Sept 9:

The union minister of state for finance Dr Bhagwat Karad has recently made it clear that the Bank of Maharashtra (BoM) is not on the list of banks to be merged or privatised. Therefore all the employees unions of BoM have thanked Dr Karad for scrapping all the rumours regarding the privatisation of the bank.

In a joint statement issued by the All India Bank of Maharashtra Employees Federation, BoM Employees Association, BoM Employees Sena and Mahabank Navnirman Sena says that BoM is the lifeline for the common man, farmers and entrepreneurs in Maharashtra. The common man has been the foundation of this bank since its inception. The rumours circulating regarding privatisation hampering the progress of the bank and customers were losing their trust in the bank. Now that the minister has clarified the stand of the central government, it will help strengthen the bank.

At the same time, Dr Karad has also promised to take concrete steps to strengthen banking in the economically backward areas of Marathwada and Vidarbha and to implement the digital system of BoM to facilitate loan disbursement across the country that will enable faster settlement of crop debts. The unions are also appealing to the minister to make special efforts to ensure adequate recruitment in the public sector banks as they have been given the responsibility of implementing various schemes of the government in the last few years.