The United Forum of Bank Unions (UFBU) has called upon all unions of bank employees to organise protest meetings/demonstrations after working hours on May 21o condemn the recent recommendations of the Nayak committee that favoured privatisation of public sector banks. “Many pivate sector banks in the country have collapsed in the past due to mis-management and fraudulent practices. Hence, public sector banks should not be privatised,” MV Murali, Convenor, UFBU said in a release issued here. The UFBU also demanded that all private sector banks should be nationalised.
Read the Hindu Business Line news report here.