The contentious issue of bank privatisation has once again come to the fore after business newspapers reported that the Union government is keen on introducing an amendment in the upcoming monsoon session of parliament to smoothen the path for the government to make a complete exit from the public sector banks (PSBs) that are being put up for sale. https://thewire.in/banking/public-sector-banks-privatisation-reservation-taxes
A note released by the People’s Commission on Public Sector and Services said, “A significant portion of [SC, ST and OBC employees] occupy managerial positions in those banks. Reservations in employment need to be viewed, not merely from the point of view of the creation of employment opportunities alone but, more importantly, from the larger socio-economic benefit of empowering and uplifting them.”
The note said that privatisation of even a single PSU bank would not only create uncertainty regarding the conditions of service of the existing SC, ST and OBC employees (as also similar uncertainty in the future of all other employees) but also “permanently close the constitution-given opportunity for new recruitments to that extent”.
by Kaushal Shroff
07/07/2022
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