If public sector banks are privatised…who will be responsible for security of common man?

It is people’s hard earned money that is given to these monopoly houses like Tatas Birla and Ambanis in form of loans. They are the defaulters who don’t end up repaying the loans and the bank has to declare that as NPA. These private banks are then saved by Public sector banks with peoples money. The figures shown above are very hard hitting.

Majority of the people in this country have to work really hard in inhuman conditions to earn and provide for their families at all fronts. Whatever little savings they can make, are kept safe in the these banks.

The government has passed policies that have constantly reduced the rate of interest on savings every year and increased the rate of interest on the loans given to a common man. By privatizing public sector banks, the savings of majority of toiling masses are in grave danger. It will also affect the bank employees in the worst possible manner. We cannot let the government take such anti-people step which will benefit the capitalist class at the cost of lives and savings of majority of the toiling class.