FM Sitharaman assures protection of interests of privatized bank employees

Union Finance Minister Nirmala Sitharaman on March 16 cleared air around Union Cabinet’s decision of privatization of banks in the country. She said, “Today, we have quite a few numbers of banks, some are performing really well, some are good...Not all banks are going to be privatized. Even for those banks which are likely to be privatized, we have to ensure that the privatized institutions too will continue to function after the privatization; we’ll also ensure the interests of the staff will be protected. The interests of workers of banks which are likely to be privatized will absolutely be protected - whether their salaries or scale or pension, all will be taken care of.”