*NOBO Condemns privatisation of IDBI BANK LTD.*

*NOBO Condemns privatisation of IDBI BANK LTD.*

The decision of Privatisation of IDBI Bank is highly deplorable and NOBO condemns it in strongest possible words.

We are against to very policy of Privatisation as it is not going to serve any good to the Country, Organisation or Individual. NOBO has a clear view that the decision for Privatisation of IDBI is taken in haste . We all are aware of repercussions of Privatisation ,no need to give specific example of working culture in private banks. Recent days newspapers are full of news which supports our earlier argument. Privatisation is no solution to any of the problem faced by the PSBs today. We oppose privatisation of PSBs in letter and spirit.

We are keeping our eyes wide open on intention of Government vis a vis privatisation. The recent step is very demoralising and frightening for the PSB employees. This will have a negative impact on their morale. This is very detrimental for customer Service also for implementation of flagship programme of Government.

It's spiralling effect will make situation more worse in Banking Sector and services to common mass will get hampered severely.
 We once again clear the dust ans reiterate that govt must not check our patience rather must move towards solving problems of PSBs and also strengthening it. Strong PSB is a prerequisite for Strong India.