Banks to stage nationwide demonstrations on May 23

Unhappy with the P J Nayak Committee panel report suggesting privatisation of public sector banks, five bank employees unions today decided to stage nationwide demonstrations on May 23. “We oppose the Reserve Bank of India appointed Committee, with P J Nayak as its Chairman, which recommended privatisation of public sector banks and reduction of government's capital to less than 50 per cent,” said C H Venkatachalam, General Secretary of All India Bank Employees Association (AIBEA) representing employees of public and private sector banks. “We will take out countrywide demonstrations on May 23,” he added, demanding the rejection of the report.

Read the Economic Times news report here.