News: Reject Nayak panel report on PSU banks

Employee Engagement

Reject Nayak panel report on PSU banks

A bank employees’ union has asked the government to reject the Nayak committee recommendations on bank privatization saying the report would not be against national interest. "The report of the committee, which was appointed by the RBI Governor, deserves to be rejected by all authorities,” All India Bank Officers Association (AIBOA) General Secretary S Nagarajan said. Nagarajan also said that banking should also be brought under Banking Audit Commission identical to CAG. The committee headed by P J Nayak, former chairman of AXIS Bank, has recommended mainly privatization of public sector banks by reducing the government equity below 51 per cent, merger of Bank, repealing Bank nationalization which would be against national interest.

A bank employees’ union has asked the government to reject the Nayak committee recommendations on bank privatization saying the report would not be against national interest. "The report of the committee, which was appointed by the RBI Governor, deserves to be rejected by all authorities,” All India Bank Officers Association (AIBOA) General Secretary S Nagarajan said. Nagarajan also said that banking should also be brought under Banking Audit Commission identical to CAG. The committee headed by P J Nayak, former chairman of AXIS Bank, has recommended mainly privatization of public sector banks by reducing the government equity below 51 per cent, merger of Bank, repealing Bank nationalization which would be against national interest.

Read the Economic Times news report here.

Read full story

Topics: Employee Engagement, #IndustrialRelations, #National

Did you find this story helpful?

Author

QUICK POLL

What is your top focus area for reinventing work in the hybrid world of work?

2 months free subscription
q_auto,f_auto/v1617612749/mag-april-2021.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

What are your key focus areas as you continue to reinvent your business amid the ongoing uncertainty? READ the April 2021 issue of our magazine to find out the reinvention story of global leaders.

Read Now