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Employees' union voice concerns against privatising BoM - The Hindu BusinessLine

Employees’ union voice concerns against privatising BoM
February 16, 2021
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Bank of Maharashtra’s (BoM) employees’ union wants the government to maintain the public sector character of the bank in the backdrop of the problems that two private sector banks – YES Bank and Lakshmi Vilas Bank – and a host of urban co-operative banks (UCBs) faced in the recent past.
“Customers are scared of private sector banks, more particularly after the YES Bank episode. In Maharashtra, Punjab and Maharashtra Co-operative Bank customers have suffered a lot.
“The Reserve Bank of India (RBI) has cancelled the licence of Subhadra Local Area Bank (Kolhapur) from private sector and Shivam Sahakari Bank (Ichalkaranji, Kolhapur) and The Karad Janata Sahakari Bank (Karad) from UCB sector,” said Devidas Tuljapurkar, General Secretary, All India Bank of Maharashtra Employees Federation (AIBoMEF), in a statement. ....

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