The Meghalaya unit of the All India Bank Officers’ Confederation (AIBOC) has remembered positively the decision more than half a century ago to nationalise banks in India.
Although recent governments have been inclined towards privatisation, AIBOC is resisting this.
Public sector banks (PSBs) “bailed out the nation” during the Covid-19 pandemic by providing special loan packages that prevented a recession, AIBOC said in a release today.
It added that PSBs are being privatised by the “back door” by merging government-owned banks in the name of increasing efficiency and financial stability.
