J&K’s bank employees mark 56th anniversary of nationalisation; oppose privatisation moves

Ziraat Times Team Report

Jammu: The 56th anniversary of Bank Nationalisation Day was observed in Jammu today with a special meeting organized by PNBOA-J&K and PNBSU (J&K) at Gurjar Desh Charitable Trust, Channi Himmat. The event brought together trade union leaders, banking professionals, and retirees to reflect on the historic decision of July 19, 1969, and raise concern over renewed calls for the privatisation of public sector banks.

Held under the theme “Why To Oppose Banks’ Privatisation?”, the gathering featured keynote addresses by leading voices of the All India Bank Officers’ Association (AIBOA) and affiliated unions.

In his address, Riyaz Ahmed Bhat, Joint Secretary AIBOA and President AIBOA Jammu Kashmir Ladakh Committee, strongly opposed the proposed privatisation of public sector banks, terming it a “direct threat to financial inclusion and national economic security.”

Arun Kumar Gupta, General Secretary of the Jammu Province Bank Employees Federation and CC Member of AIBEA, highlighted the transformative role played by public sector banks in rural development, small-scale industries, and poverty alleviation post-nationalisation.

“Privatisation will shift focus from social welfare to profit maximisation, defeating the very purpose of bank nationalisation,” he said.

Veteran trade unionist Ashwani Khosla, General Secretary of the PNB Retirees Association, spoke about the critical role public sector banks have played in supporting pensioners, farmers, and micro-enterprises across the country.

Ashwani Pradhan, Vice President AIBOA and General Secretary AIBOA-Jammu Kashmir Ladakh Committee, called for unity among banking sector employees and unions to resist any policy moves toward disinvestment in the sector.

“Nationalisation empowered the poor. Privatisation endangers that empowerment,” he noted.

The meeting also featured greetings and solidarity messages from several union leaders, including A.B. Khajuria, Tara Singh, Sachin Hans, Parshotam Kumar, Rahul Gupta, Rakesh Sharma, and Amit Verma.

The event concluded with a resolve to intensify awareness campaigns on the importance of retaining public control over banking services. The meeting was coordinated by Samandeep Singh.

Organisers stated that more outreach events and discussions will be held across the region in the coming weeks to mobilise public opinion and employee awareness against the backdrop of privatisation debates.