BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Monday, October 21, 2019

How the privatization of banks affects the common man.

How the privatization of banks affects the common man.

The nationalization of private banks in India was a historic event. It was a struggle of the working class that could not be written down by a ruler. Behind the popularization of the banking sector, which has been dominated by the rulers and the big hands, lies the proud story of the valiant struggle of the bank employees and the masses of class conscious people.

Mass banking has decentralized the financial sector. They started working for the common man. Until then, the people had no access to the banks. What they have kept aside from their wages has become fixed deposits. The money thus collected went back to the people with educational loans and loans to small entrepreneurs and farmers.

Not only this provided the nation with a balanced healthy economy, but also the banking industry became one of India's largest employers, with opening of branches in rural areas.

Neo-liberal policies believe in dignified speculation. They make tempting offers in order to channelize people’s money into the market. Through these offers, the corporations have been gambling on trillions of dollars through unnecessary insurance schemes. The Economy has been changed so that people can invest in it by knowing that it will be a big dump, like the words which ends in Mutual Fund Investments Advertisements.

Seventy percent of the total bank deposits are from the common man. Today there are many restrictions in dealing that money. People have begun to recognize those who forbade them to eat the fruits of their labor.

Privatisation is a profit-making scheme that does not recognize the status quo of the people. They don't want to involve poor in the sector . The fact is that six thousand branches were closed and that can be seen in the parliament documents. This is equivalent to driving people out of their economic state. This is a glimpse of rejecting their hard worked earnings into banks. However if it gets into the banks after struggles it will be hit by huge charges.

Banking, which opened huge employment opportunities once, has cutshort their recruitments now, and the closures of branches signal that employees will be forced to be pulled out from the industry. Privatization of banks has its role in creating the huge unemployment ever.

On October 22, the bank employees are going on strike to protest against the privatization policies of the Govt. It is not only a workers' struggle to defend their work culture, but a fight for the rights of the people over their property too.

#AIBEA
# 22nd_Oct_Bank_Stike

2 comments:

Unknown said...

Madurai court case ?
What happened ?

Raghubir said...

IBA is only increasing only expenditure head of bankers. Please also increase income head of balance if not accommodate bankers for genuine demands at 25% increase

33.9 million Jobs: Good News! India plans to add 33.9 million jobs by 2028

33.9 million Jobs : India’s workforce is anticipated to expand from 423.73 million in 2023 to 457.62 million by 2028, adding a net gain of a...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">