There s no doubt that new
corporate houses if awarded license for opening of new bank will do the
banking business for earning more and more profits only. They were and they
will be least bothered of pain of poor and that of common men .
Business houses are booking
exorbitant profits in selling of medicines and they do not allow generic
medicine business to flourish in nexus with politicians. Poor person cannot
dream of medical treatment in private nursing homes
and private hospitals because these private institutes are great
cheaters, they extort lacs of rupees from patients in the name of small
treatment which government hospitals can do in hundreds of rupees.
Business Houses have raised the
prices of houses to sky high and this is why purchasing a new houses
( flats in apartments), has become unaffordable for poor and even top
middle class families. Cost of houses and that of land has gone up
ten to hundred times in last few years and it is going up and up.
Rich Business houses have raised the
education cost, specially for higher education. Poor and middle class
families cannot afford admitting their children in private schools and
colleges. As long as education sector was not opened for private sector ,
tuition fees in schools used to be maximum Rs. 100 per month and similarly
hardly Rs.500 in colleges for higher education. Now in the era of reformation ,
parent has to pay at least a lac rupee as donation as
also tuition fee per year for admitting his child in a private
school and similarly they have to pay Rs. ten lac to one crore in getting his
child admitted in colleges for MBA , engineering and medical studies.
When the position of medical care ,
education and houses has become so much costly and have beyond the reach of
common men only due to deficit administration , lack of monitoring in true
spirit and only because of failure of the government in keeping
institute run by the government in good condition and because of
rampant corruption, how one can dream of good results for poor and common men
.
It is the culture of the government
first to loot a government organisation, spoil it by mismanagement and make it
ineffective and totally defunct and then they plead for handing over the same
to private owner. And when they start the process of handing over the sector to
private sector they give rise to Coal Scam, Mines Scam, CWG Scam and so
on.
There is no doubt that public sector
was in the interest of the common men but due to bad politicians, public
sector's image is totally tarnished and this has given private sector an
opportunity to loot and exploit the consumer and needy persons.
No doubt, when they start banks,
they will focus on profits and for this purpose they will have to focus top
business houses and to compete with them public sector banks will spend
thousands of crores of rupees in only renovation as hither to done to compete
with ICICI and HDFC and AXIS bank.
It will not be astonishing
to know that in the era of so called reformation even public sector banks
has started focusing on bulk loans to earn profit and almost discarded poor and
common men for loaning purpose. Public sector banks in the name
of financial inclusion are simply giving free opening of accounts
to poor and common men and doing their duty as assigned by corrupt
politicians who are playing in the hands of rich houses.
If one peeps into the trajectory of
bad assets accumulated in public sector banks, it will become crystal clear
that ninety percent of their bad assets are in the hands of rich business
house and politicians or families having close nexus with high
profile politicians. Number of billionaire has grown in hundreds whereas
number of poor has grown in billions.
This is India and Indian story of
reformation
And privatization and globalization.
Goods and services not available to
India or are available at extraordinary high prices only because many of
essential goods are exported to earn
higher and higher profits. Even onions are exported leaving Indians weeping on
price rise. There is practically no control of government on black marketing,
profit making and hoarding. When prices of any commodity goes up and people of
India cry against price rise , clever politicians of Congress Party start
talking of GDP growth and RBI talking on
repo Rate etc.
As a matter of fact history repeats
itself. After 20 years of freedom, the then Congress Party government realized
that private banks were exploiting bank staff and these banks were beyond the
reach of common men. Poor were exploited by local money lenders. Smt Indira
Gandhi nationlaised the banks and gave great relief to poor and common men along with bank
employees from the clutches of exploiter bank management and local
moneylenders.
After twenty years of
nationalization , Congress Party led government realized that banks were not
serving poor and incurring loss due to poor monitoring, they thought it better
to hand over the banking sector to private business houses. Again banks
discarded poor and bank employees and started serving rich business houses.
Now time is ripe for the government
to understand that until politicians change their mindset and they stop
corruption completely they cannot dream of any reformation and any help to real
poor and real common men. I salute AIBEA leaders who have taken the lead to
awaken the government from deep slumber and expose the dirty game of bad
borrowers. And there is no doubt that awarding new licenses for bank will
aggravate the problem instead of solving the problems of common men. Otherwise
government will continue to infuse capital in public sector banks and in return
private banks will continue to flourish as private telecom service providers
are earning huge profits at the cost of BSNL and private airlines are earning at
the cost of Indian airlines.
India needs reformation of mindset
of politicians and officials and not that of banks or business sector as a
whole. Government cannot save India from disaster only by inviting and
promoting FDI until they reform their mindset and remove evil forces from the
system completely.
AIBEA opposes RBI move to grant licenses to private
entities-Business Standard-25.11.2013
Issuing of license will
not only result in ignoring the priority sector but will also lead to
profiteering: AIBEA
The All India Bank Employees Association (AIBEA) has
opposed the RBI move to grant banking licenses to private entities
and expressed apprehension that this will lead to "profiteering" and
is "inimical" to the interest of the country.
"The government is proposing to give licences to various
business houses like Tata, Birla, Ambani, etc, to start private banks. This is
not only harmful for the country but also make banking very costly.
"The issuing of license will not only result in ignoring the
priority sector but will also lead to profiteering as it will be the sole
motive of the corporates. We oppose this proposal in toto," said AIBEA
General Secretary C H Venkatchalam.
He was addressing a national conference of the Federation of Bank
of India Staff Unions here.
The United Forum of Bank Unions, representing employees of public
and private sector banks, has already announced observing of a one-day national
strike on December 19 for various demands.
"...Prior to 1969, banks were owned by
private business houses and because of their mismanagement, banks were
nationalised by the then prime minister Indira Gandhi. Now, again giving
license to private players will be harmful for our country," he said.
Venkatchalam criticised as "retrograde" the RBI
guidelines over foreign banks. "RBI in its guidelines allowed foreign
banks to take over our domestic banks even they do just over 3 per cent
business in India. This should be withdrawn...We need further expansion of
banks and strengthening of PSUs," he added.
Venkatachalam said the strike call was given for
demands like takeover and merger of banks, rising percentage of bad loans in
banks, handing over rural credit to private contract agencies, outsourcing of
regular bank jobs, etc.
He said the AIBEA would observe December 5 as "All India
Demands Day" by wearing badges and holding rallies.
"The demands include publishing names of
defaulters of bank loans of above Rs one crore; making wilful default a
criminal offence; amendment of recovery laws among others," Venkatachalam
said.
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