The Nationalisation of Banks in 1969 was a very important decision by the Indira Government which changed the entire situation for a better finance and banking for the whole country. The banks were nationalised on 19th July 1969. Now it is 43 years after nationalisation. There are lakhs of workers in these PSUs and the latter saved us from the recession of 2007-2008, when most of the capitalist countries had to face serious situation.
But nevertheless, the present UPA II government is trying to weaken the PSU banks and they may privatise also if possible. The government is more interested in the private banks. The PSU banks are compelled to bail out the corporates and as a result their NPAs ( arrears of loans) are increasing.
But the bank employees are well organised under the United Forum of Bank Employees and have conducted continuous struggles to save the industry and the interests of the workers.
Best Wishes to the Bank Workers and their organisations on this day!
But nevertheless, the present UPA II government is trying to weaken the PSU banks and they may privatise also if possible. The government is more interested in the private banks. The PSU banks are compelled to bail out the corporates and as a result their NPAs ( arrears of loans) are increasing.
But the bank employees are well organised under the United Forum of Bank Employees and have conducted continuous struggles to save the industry and the interests of the workers.
Best Wishes to the Bank Workers and their organisations on this day!