One and all must oppose the merger of PSB's to protect national and our own interest.

Another Slap (This time a bigger one and probably a harder one as well) on face of those Who were Advocating Privatisation of Public Sector Banks.

A Few months ago, PMC, a small Private Co-operative bank caused a lot of trouble to people, because its Board has mishandled Public's money that was entrusted to them as deposit. A few thousand people faced troubles, but somehow it has ended now.
But now comes big news because another Private bank, Yes Bank (60 times bigger then the size of PMC) with nationwide presence has done the same with Public's money.
Now where are those Financial Experts who were advocating privatisation of Public Sector banks?

Guess who's been asked to buy stake in Yes bank to bail it out and protect the interest of depositors, Its SBI and LIC (whom govt. is planning to privatise as well) by making consortium with other Public sector banks.

Its Yes bank today, remaining Private banks are gonna follow the suit soon because people won't stop depositing their hard earned money in those banks for additional 1-2% interest and for that interest they'll be Risking their Principal itself.

Public sector banks, who have ensured reaching of banking facilities even to the poorest people in remotest areas, do work for Public welfare and at the same time are also earning profits for govt. and implementing social security schemes and work under tremendous pressure and limited human resources and with much smaller pay packets compared to the risk and burden they work with.

Its still not too late for people to change their banking habbits and start turning towards Public Sector Banks and help them protect from cruel intentions of some capitalist politicians to turn them into the loan sharks known as Private Banks. Public, in their best interest should leave the lure of extra interest offered by Private banks and understand there's a reason that word "Public" exists in name of Public sector banks.

An innocent request

Ask your loved ones and relatives to deposit their hard earned money with Public Sector Banks
*Warning*
Today's Govremnants decision of merging of Public Sector Banks is a step towards changing their status from PSU to private entity.
One and all must oppose the merger of PSB's to protect national and our own interest.