AIBOC celebrated 50 years of bank nationalisation with tree plantation

AIBOC CELEBRATES 50 YEARS OF BANK NATIONALISATION

ALL INDIA BANK OFFICERS’ CONFEDERATION (AIBOC) the largest apex trade union organization of Bank Officers representing 3.20 lakh members in both Public and Private sectors, Regional Rural Banks and Co operative Banks is celebrating, through its all state units and affiliates, the epoch making event of Bank Nationalisation as it completes 50 glorious years of defining contribution to National Economy on 19th July 2019. All state committees and affiliates are celebrating the event by conducting various programs across the country, viz. tree plantation, badge wearing, raksha bandhan, rallies, walkathons, human chain, symposiums, street theaters, taking BSNL connections in support of another PSU etc. The celebration assumes greater significance when an all out offensive is launched to reverse the process of nationalization in the name of consolidation, amalgamation and dilution of state equity ignoring the role played by the banking sector in transforming the financial landscape of the country braving all odds during the last 50 years.
Public sector banks have been going through challenging times currently, because of the decadent culture of Indian large corporate businesses, which have led to piling up of NPAs, wilful defaults and accumulation of humongous NPAs. The IBC process has so far not been effective enough to yield timely NPA recovery and the average recovery under this code is only 43%, which implies that Banks had to take ‘Haircuts’ amounting to 57%. AIBOC demands stringent punitive action against willful defaulters and economic offenders, who have looted the PSBs.
AIBOC recalls the roles played by the bankers’ post nationalization as banking reached historically unbanked regions, drew millions of countrymen in the organized financial sector and changed the very face of rural India by effecting a decisive shift in credit deployment in favour of priority sector, village and small scale industries including agriculture. The green and white revolutions, or the recent Pradhan Mantri Jan Dhan Yojana(PMJDY), MUDRA, Stand Up India, Pradhan Mantri Awas Yojana(PMAY) etc. could not have been implemented without the crucial role played by public sector banks.
AIBOC remains firmly committed to strengthening of the PSBs in order to continue serving the millions of ordinary bank customers, especially the depositors, small and marginal farmers, MSMEs, Self-Help Groups, students and the weaker sections of society like SC/STs, OBCs, minorities and women. AIBOC demands that all unjustified enhancements in service charges, which have put burdens on the bank customers, should be withdrawn forthwith. AIBOC will resolutely oppose any move to privatize/consolidate the PSBs, dilute public ownership and pass legislations like the FRDI Bill, which are against the interest of the depositors, small borrowers and common man. AIBOC pledges to extend the best possible service to our customers, who are our biggest stakeholders and solicits their support to protect public sector banks.
To commemorate the occasion AIBOC , Chandigarh State committee organized medical health check up camp at Panchkula and organised tree plantation camp at Govt. Model Schools at Khuda Ali Sher , DaduMajra and Sector 19 Panchkula.
Com. Sanjay Sharma , Com Ashok Goyal Rajiv Khanduja, Com T S Saggu, Com Vipin Berri , Com sachin, and com. Rakesh Garg , com. Navin were present on the occasion