(AIBOC) condemns and opposes any move of the Government to privatise and/or Merge Public Sector Banks.

All India Bank Officers' Confederation (AIBOC) condemns and opposes any move of the Government to privatise and/or Merge Public Sector Banks. The Role played by the Public Sector Banks in Nation Building has always been highlighted, appreciated and applauded by all Governments of the times. But simultaneous and strategic propaganda initiated by and through various Institutions, Authorities and Controllers creates doubts in the minds of common man with regard to real intentions of the Government/Regulators, who were seen as promoting the interest of foreign powers and capitalists. AIBOC has been representing its views through various correspondence and personal representations to all authorities and even suggested various alternatives/solutions to the concerns aired and steps taken by the Government through press releases and statements. Our Serious suggestions of Alternative Commissions on Financial Reforms and Alternate Gyan Sangam were not even looked into, leave apart discussions on that.

It is astonishing that without addressing the real issues responsible for the present state of affairs of the Banks and without considering options available, the Banks are being asked and compelled for Mergers. The secrecy maintained in the directive move of merger of Associate Banks with SBI, as visible from the fact that the Agenda of such importance is brought as table item, raises doubts about the real intentions and motives of Government. All India Bank Officers' Confederation (AIBOC) strongly condemns any initiative of the Government for directionless mergers including merger of Associate Banks with SBI. We vehemently demand from Government to address the issue of recovery of NPAs and infusion of required capital in Public Sector Banks