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Tribune News Service
Ludhiana, July 21
A state-level seminar of the Punjab Bank Employees’ Federation was held today at Punjab Trade Centre. More than 600 delegates from all corners of the state participated in it. The seminar was organised on the occasion of the 50th anniversary of the nationalisation of banks. Dr R S Ghuman, Professor, Centre for Research in Rural and Industrial Development (CRRID), Chandigarh, Dr Anupama Uppal, Professor of Economics from Punjabi University, Patiala, were the eminent speakers.
The All India Bank Employees’ Association (AIBEA), decided to observe the event by organising various programmes for Public Sector Banks in view of the government policies towards disinvestment and privatisation of Public Sector Banks in the name of banking reforms. To take stock of the situation and to evaluate the contribution of Public Sector Banks in the development of our nation, the seminar was held at state level.
Com S K Gautam, General Secretary, while placing the agenda of the seminar said it was high time that the evaluation of the progress of banking industry and development of the country was done. Branches before the pre-nationalisation phase were merely 8,200 which are now 90,765. Rural and semi urban branches did not exist at all but now have reached around 54,872, priority sector loans were not disbursed at all but now 40% of the share is allocated for priority sector lending.
Deposits were merely Rs 5,000 crores and now are at Rs 127 Lakh crore, loans were merely Rs 3,500 crores but now are at 85 lakh crore. Green revolution, white revolution and development of infrastructure was the outcome of public sector banks only.
Unfortunately, instead of strengthening the public sector banks to achieve such aims, the present day agenda is to pursue banking reforms such as privatisation and amalgamation of banks.
P R Mehta, President, in his address said big corporate houses have a great role to play in increasing the NPAs of the Public Sector Banks. Privatisation of profit and nationalisation of loss was the corporate policy. Banks are increasingly coming under the clutches of the big business. Our banks are made to bleed and record losses because of the corporate defaulters.
He also said that banks belong to the nation. The money belongs to the people. Hence our slogan is ‘People’s money for people’s welfare and not for corporate loot’. It is our patriotic duty to strain every nerve to resist all the retrograde attempts of banking reforms and fight for policies that would strengthen our Banks.
Dr R S Ghuman, noted professor in his key note address termed the nationalisation of banks as ‘Banking Independence’, which not only channelised public money for productive purposes rather also empowered the people to come out of the clutches of money lenders.
Heavy industry, development of infra structure including roads, electricity, railways and communication was possible only with the Public Sector Banks. Impact of ‘US Financial Crises’ did not affect Indian economy because of Public Sector banks only. Hence, dilution in public character of the PSB’s will adversely affect the economy of our country and shall go against the inclusive growth and development.
Dr Anupama Uppal, in her address congratulated Punjab Bank Employees’ Federation to hold the Seminar because it is high time to create public awareness to defend Nationalization of banks. PSB’s contribution in the development of the nation can only be defended by mobilising public support which can be possible with best customer service.
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