Fear Of Privatisation of PSU Banks

Following  video  is for persons who are spreading apprehension  in minds of Bank employees  that this government  is adamant on privatisation  of public sector  banks.  At least left minded union leaders and leftist bank staff  should watch this video to make their mind clean of prejudices.  It is these union  leaders (and a small section of bank staff)  who are keeping bank employees  always in fear of privatisation and then exploit them to serve their own selfish  motives. It is these leaders who protested even purchase of a simple calculator  during  seventies and eighties,  they protested computerisation  during ninties,  they protested core banking solution,  ATM expansion,  branch expansion and what not.  They always created  a false fear of unemployment  and job cut.

It may be taken for granted as I have written in my blogs several  times during last few years (my blogger  site  and other sites ) that any government  which wish to carry on social welfare schemes in the country and which want real growth in all sectors  cannot dream of privatising public banks.  PSU banks are definitely healthier than private banks and it is PSU banks which serve larger section of society whereas private banks lend where they are safest or where their own friends and relatives ask for. We have seen liquidation  of many private banks during last three decades.  One of them  is Global Trust Bank  which in the past became too weak to survive and which was merged with one of PSU bank only.  Similarly banks like ICICI bank,  Yes Bank are. going in that direction only.   PSU banks are undoubtedly  lifeline for the economy  of under developed  countries  like India.

Sickness of PSU banks is caused by many factors. Management  of these banks inculcate a culture of flattery  AND bribery which then adversely  affects quality of recruitment,  promotion  and transfers and which finally affects quality of lending and quality of belongingness. There is definitely  lack of loyalty towards banks which employ bank staff.

PSU banks were healthier  at least before imposition  of Pillai Committee recommendation in eighties, before introduction of IBPS for recruiting  bank staff and before end of seniority  based promotion  of bank employees. Banks were healthier before they started non banking businesses  like selling  insurance policies,  mutual fund etc.  Banks were healthier  when there used to be no pressure for loan melas and for forced loan waiver scheme announced by government  for political  reasons.  Banks were healthier  when there used to be need based branch expansion  and not politically  motivated  reckless branch expansion. And so on...

Banks are sick due to politicians who misuse it for their self and for vote bank.  Banks are sick because borrowers do not fear bank management,  judiciary  and administration . Banks are sick because borrowers do not repay their dues and bankers are either helpless or under fear of repercussions. Banks are sick now because fraud culture has vitiated entire system.  Bank are sick because  CAs, lawyers,  advocates and other professionals  support borrowers and misguide bankers in greed of money. And so on.

It is the need of the hour that bank employees  as well as their leaders  understand  the role of PSU banks and help government in  running banks as is appropriate  in the given situation.  Bank staff should not bother whether banks are merged or demerged,  whether government  dilute  their stake or increase it and whether government  ask to lend in this sector or other.  It is the prerogative  of owners of the business to decide how to run a business  entity.

Bank employees  and their leaders must however make all possible efforts to increase their pay packages and comfort of service as per need of the time and as other sectors grow.  They should undoubtedly  focus on earning maximum  profit under available  resources and in framework  of government  policies.


Government  cannot deny hike in  their pay packages  on grounds of profitability  of banks.  Government  should always try to peep into causes where they are committing mistakes  after  mistakes. They cannot penalise bank employees  for faulty policies or for corrupt judiciary  and for mean minded approach  of politicians running this country. Government  cannot do charity after charity using PSU banks  and then expect profit at par with private banks.

Government  should not expect quality lending if they desire fast and wholesale lending to serve their political interest.  Government  cannot allow and should not promote interest rate competition among various  PSU banks. Government  cannot relate lending rate with report rate and should not advice abnormal cut in lending which ultimately  affects the deposit base and savings habits of depositors. And so on....

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Following is facts what Sri Piyush Goyal said in above video clipping.

*Statment of Piyush Goyal when Privatization Lobbyist Neelkanth Mishra , MD, credit suisse batted for Privatization of PSU Banks.*

1. Private Banks have more scandals today than PSU Banks.
2. Most Scandalous things are coming Up from Private Banks, HFCs & NBFCs.
3. Privatization is not the panacea of all the problems in Banking Sector.
4. Public Sector Banks are reason behind India Developed So Much in every field like infra, power, manufacturing, real estate.
5. PSU banks helped & backed Indian entrepreneurs through thick n think & helped them to grow.
6. No private Bank provide loans to young entrepreneur who wanting to start business, it's the Govt Bank who stood By.
7. It's public Sector Banks who have taken risk in even remotest projects of this country & helped but not private bank.
8. Private Banks only lending to cozy comfortable retail lending, served those who paying high taxes not to poors & Farmers.
9. We Must Continue to support Public Sector banks if India want to grow Further.
10. *Hats off to these Public Sector Bankers.*

*पीयूष गोयल ने पब्लिक सेक्टर बैंकों के निजीकरण की मांग करने वाले को  खुले मंच पे धो डाला*
1.  आज पब्लिक सेक्टर बैंकों की तुलना में ज्यादा आर्थिक घोटाले निजी/प्राइवेट बैंकों में हो रहे है।
 2. प्राइवेट बैंको, एचएफसी और एनबीएफसी से बड़े घोटाले सामने  आ रहे हैं, जिसे सरकार सही करने में लगी है।
3. पब्लिक बैंकों का निजीकरण, बैंकिंग क्षेत्र की सभी समस्याओं का रामबाण इलाज नहीं है।
5. सार्वजनिक क्षेत्र के बैंक और पब्लिक सेक्टर बैंक ने भारत के विकास के हर क्षेत्र जैसे इन्फ्रा, पावर, मैन्युफैक्चरिंग, रियल एस्टेट में  विकसित करने में मदद की है, जबकि प्राइवेट बैंक ने नहीं।
6. पब्लिक सेक्टर  बैंकों ने कठिन परिस्थितियों में भी भारतीय उद्यमियों की मदद की और उन्हें आगे बढ़ने में मदद की।
7. कोई भी निजी बैंक युवा उद्यमी को ऋण प्रदान नहीं करता है जो व्यवसाय शुरू करना चाहते हैं, यह सरकारी बैंक है जो कि खड़ा है।
8. ये सार्वजनिक क्षेत्र के बैंक हैं, जिन्होंने इस देश की सुदूर परियोजनाओं में भी जोखिम लिया है मदद की है।
9. निजी बैंक केवल आरामदायक खुदरा ऋण देने का काम करते हैं, ये उन उच्च वर्ग के लोगों को सेवा देते हैं जो उच्च कर का भुगतान करते हैं वे गरीबों और किसानों को न ऋण देते है ना मदद करते हैं।
 9. अगर भारत आगे बढ़ना चाहता है तो हमें सार्वजनिक क्षेत्र के बैंकों का समर्थन जारी रखना चाहिए।
10. इन सार्वजनिक क्षेत्र के बैंकरों को सलाम की उन्होंने इतना काम किया, रिस्क लिया और देश को आगे बढ़ने में मदद की है।👆