Golden jubilee fete of bank nationalisation

Basheerbagh: All India Bank Officers' Confederation (AIBOC) would be organising golden jubilee celebrations on the occasion of 50 years of bank nationalisation. This was stated by the representatives of AIBOC at a press conference held here on Wednesday.

Addressing the media, the president of the confederation, B Sukkaiah said that a human chain would be formed on Necklace Road on Friday as part of golden jubilee celebrations of bank nationalisation. He said that the revolutionary decision was taken by the then prime minister Indira Gandhi to strengthen Indian agriculture.

As part of the decision, 14 banks were nationalised and banking system was strengthened, he added. Sukkaiah said that the decision had immensely benefitted farmers as the process of getting agriculture loans got simplified, which in turn had resulted in green revolution.

He called upon bank employees to wear batches highlighting the greatness of the decision among people. He expressed his anguish at Niti Commission's recommendations for privatisation of public sector. He said that privatisation may curb the nation's growth.

He demanded the central government to withdraw the proposals to close public sector and strengthen public sector banks. The confederation secretary G Nageshwar, vice presidents Anji Reddy, Pradeep, Linga Reddy, Satish, Raju and others participated in the press conference.