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National seminars to commemorate the 52nd Anniversary of Bank Nationalisation

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New Delhi: All India Bank Employees Association on Friday  began the series of month-long National Webinars to commemorate the 52nd Anniversary of Bank Nationalisation. In the first seminar conducted on the occasion of Bank Nationalisation the speaker Com. Rajen Nagar, President, AIBEA elaborated on the retrograde banking and the tasks. The seminar was attended on Zoom app by the employees working in the banking sector across India.

The seminar encompassed the current situation of the banking industry wherein there is a dire need to fight against privatisation in the sector. AIBEA highlighted the commitment to defend the public sector banks and people banking in order to route people’s money for their welfare instead of corporates.

“ The government is reducing the number of public sector banks on the grounds of bad banking operations in the sector. However, on contrary to this more than 73 percent of bad loans are the result of corporate’s faulty banking practices. To back this scenario AIBEA came up with a precise list of defaulters to which the government responded by announcing multiple policies like IBC and NPA which again would favour the corporates only,” said Com. Rajen Nagar, President, AIBEA.

While highlighting the contribution of public sector banks towards the welfare of people, the seminar mentioned about the initiatives including Jan Dhan Yojana, MNREGA wherein these banks have played a vital role in implementation through financial inclusion.

Com. Rajen Nagar, President, AIBEA, reinstated the necessity of nationalisation by stating, “the only way to revolutionise the banking system in India is to nationalise the banking system and run all the banks under the structure of public sector banking.”

Further, the speaker urged all the employees working in the system to raise their voice against the growing influence of corporates over the Banking sector in India.

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