Against this privatization employees of nine public sector banking unions have gone on a two days strike on 15th March 2021. Regardless of whatever they might think the fact of matter is, like airline and telecom , the banking sector is already getting privatized.
In budget speech , Finance minister Nirmal Sitharaman had already announced that two public sector banks other than IDBI will be privatized.
If we talk about loan that the lending carried out by PSBs as a proportion of overall has been steadily decrease i.e which was 75.12% now it’s 57.31% in September 2020.
And what’s about deposits?
The proportion of banking diposits with PSBs touched high peak i.e 74.76% in March 2012 which is decreased to 62.18% in September 2020.
No matter what , when it comes to deposit PSBs are more faithful for public.
But as PSBs struggled with huge amount of loans it’s getting increasingly privatized , whatever PSB unions might think, govt. not gonna be responsible for it.