Post-globalisation developments affect bank employees:Issac

Kochi, Nov 10 (UNI) Kerala Finance Minister Thomas Issac today said the 'post-globalisation developments' in the banking sector would adversely affect the interests of the bank employees.

Addressing a gathering after inaugurating the the State Conference of the All India Bank Officers Confederation (AIBOC) here, Mr Issac said '' the developments in the banking sector after globalisation and liberalisation were virtually de-nationalising Indian banks and giving more power to foreign banks.'' The Minister also negated the argument that the Indian banking sector was inefficient and not profitable.

Mr Issac reiterated that the banking sector had a pivotal role to play in the progress of the nation by channelising funds to growing sectors and Industries.

UNI