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Business Economy


Nationalisation of PSBs made rural economy, farmers self reliant : Anjan

Hyderabad, Jul 29 (UNI) All India Kisan Sabha (AIKS) General Secretary Atul Kumar Anjan said the
Nationalization of Public Sector Banks (PSBs) in 1969 has made rural economy and farmers self-reliant.
However, the present BJP-led NDA government under the garb of self-reliant India is dismantling rural economy and weakening the livelihood of farmers, he alleged.
Bank Nationalisation has made the country self-reliant in food grain stocks and has helped common man in employability besides modernization in agriculture has become possible only due to it.
Delivering his lecture on 'Impact of Bank Nationaisation on Rural India' on the 28th day of the month-long AIBEA National Webinars to commemorate the 52nd anniversary of Bank Nationalisation on theme 'Vibrant Banking for Vibrant India' and focus 'people's money for people's Welfare', on Wednesday night, he complimented the leading role played by AIBEA in campaigning, demanding and fighting for nationalisation of Banks.
Mr Anjan recalled the efforts put in by the communists and all left forces in raising the demand of Bank Nationalisation as early as 1952-53. When the then Government led by Pandit Jawaharlal Nehru was reluctant to agree to this demand, the left parties and their trade unions launched rallies and demonstrations to force the Congress government to accept it.
He also recalled that in the police firing that ensued, more than 240 people have been killed, who were not bankmen. In 1957-58, in the Parliament there was a great discussion when AIBEA leader Prabhat Kar entered the Lok Sabha and demanded Nationalisation of banks.
Prabhat Kar explained and gave reasons as to why the banks should be Nationalised, the AIKS General Secretary said.
While launching a frontal attack on the Bank defaulters, he stated that defaulters have abused the banking system and have looted the hard-earned savings of the common man.
Mr Anjan hailed the role being played by All India Bank Employees Association in exposing the bank defaulters.
He stated that the present NDA government on the one side Nationalizes the loss-making Global Trust Bank by merging it in Oriental Bank of Commerce and on the other it is privatizing PSBs which amounts to Nationalization of losses of private sector at the cost of public sector.
The AIKS General Secretary said that merger of banks has laid for large-scale closure of branches from rural areas. And further if banks are privatized, it will ultimately result in dismantling rural banking which will have a disastrous effect on agriculture and rural population of the country.
He acknowledged and appreciated, the efforts being made by All India Bank Employees Association in resisting government's policy prescription of privatization of public sector Banks and appealed to the government to revisit their policy of Bank Privatization.
Mr Anjan while concluding his speech assured AIBEA that AIKS and Communist Party of India (CPI) will stand by it by giving all out support to their fight against Bank privatization.
UNI CS 1745
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