Patna, Jul 12 (UNI) Indian public sector banks, currently passing through a difficult phase because of the slowdown in the national economy, should review their present policies to bounce back into profitable business ventures.
This view was unanimously expressed by a panel of speakers at the opening ceremony of the ''9th All India Conference of Indian Bank Employees' Federation'' here today.
Intiating a panel discussion on the 'Future of Indian Banking Sector in the midst of the current economic scenario', Prof Mohammad Muzammil, noted economist and head of the Department of Economics, Lucknow University, highlighted the basic differences in the policies of private and public sector Banks in India resulting in the 'inequal and inadequate' services to different customers.
'' Unless the basic structure between the two is removed, more people, particularly those from the rural India, would suffer and remain out of the purview of the banking network as a whole in the country, '' he felt.
Holding the 'faulty' policies of the Union government responsible in terms of providing soft credits to Bank customers, Prof Muzammil claimed that this was the prime reason behind the 'unstoppble growth' of Non-Performing Assests(NPAs)in most of the public sector Banks.
Despite several attempts and harsh steps, the double digit growth of NPA could not be stopped for a long time, he asserted.
Also expressing concern at the recent RBI's decision to increase the credit rate as well as the Repo rate by 0.5 per cent in public sector Banks in addition to several other tighetening measures, all the other speakers, including president of the Indian Bank Employees Federation (IBEF) Tapan Das and Bank Employees Federation of India(BEFI), All India General Secretary Pradeep Biswas, felt that such measures were bound to have a long term effect on customers in terms of year to year deposits.
The three-day-long meeting, being attended by more than 150 delegates from across the country, also placed a 30-point charter of demands before the Indian Banks Association seeking qualitative improvement in their working environment.
Among their major demands were immediate reversal of the present outsourcing policy of public sector Banks, more appointments on compassionate ground and more transperancy and clarity in the transfer policy of public sector Banks.
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