NAPM, NTUI and AIBOC Invites you to a public meeting titled ‘Save Public Sector Banks: Save Indian Economy’
Date: February 4, 2018
Time: 2 pm onwards
Venue: 104, Kulharia Palace, Behind Bazaar India. Ashok Rajpath, Patna. It is 5 minutes walk towards east from the Gandhi Maidan Bus Stand.

Dear friends,

National Alliance of People’s Movements (NAPM), All India Bank Officer’s Confederation (AIBOC) and New Trade Union Initiative (NTUI) have been holding state-wise meetings on the banking crisis that has rocked the public sector banks. While there is enough light on the nature of the bad loan crisis, there has not much debate on the crisis unfolding in the name of addressing the NPA problem.

It is true that the problem of bad loans are drowning the public sector banks and the banks are in dire need of a capital infusion. But does the slew of new legislation like IBC, FRDI Bill, mergers of banks and other drastic changes in the financial policies actually address the problem? In the name of saving public sector is the government trying to privatise through disinvestment? When there is close to 10 lakh crore of NPAs from corporate debt, is it fair for the banks to levy charges on customers for every banking transaction? Why should the common people of this country worry about the state of public sector banks? And more importantly, are we anywhere close to solving the banking crisis or is this another attempt at robbing the poor and common citizenry to pay for the rich and powerful?

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