Govt committed to protecting interest of staff in PSBs that may be privatised, says FM
New Delhi, Mar 16 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said the interest of all employees of state-owned banks which are likely to be privatised will be protected, even as bank unions observed a two-day strike against the government's privatisation decision.
Replying to a query during a press conference, she clarified that public sector presence will continue in the banking space.
"...we have announced public enterprise policy based on which we have identified those four areas in which we said government presence, public sector presence will be there, and bare minimum presence is what we have said, in that financial institutions are also there.
"Meaning, even in financial sector we will still have the presence of public sector enterprise...not all of them are going to be privatised," she said.
Even for those which are likely to be privatised, Sitharaman said the government will ensure that "these privatised institution will also continue to function. After the privatisation, we will also have to ensure that the staff or the personnel who are there, their every interest will be protected."
In her Budget Speech on February 1, Sitharaman had announced that the government proposes to take up the privatisation of two public sector banks (PSBs) and one general insurance company in the year 2021-22.
This would require legislative amendments and she had proposed to introduce the amendments in the ongoin Budget session of Parliament itself.
Nine bank unions are observing a two-day strike opposing the government's policy to privatise lenders. Tuesday was the last day of their strike.
At the press conference, the minister referred to amalgamation of PSBs and said the country needs many more lenders of the size of State Bank of India (SBI).
She further said the government wants financial institutions to get more liquidity and more people to put money into them to make the entities sustainable.
The government wants the staff of these financial institutions to be able to perform their duties, in which they have acquired skill over the decades, and run the banks, the minister added.
"So, to immediately quickly conclude saying 'oh every bank is going to be sold off' is not right.
"And even whether it is bank or any other privatisation, I want to take this opportunity to tell...that the interest of the workers, interest of those who have put in services over the decades will absolutely be protected. Whether it is their salaries, whether it is their scale, whether it is the pension, it will all be taken care of," she said.
The government has merged 14 public sector banks in the last four years.
The four strategic sectors in which the government will continue to have its presence, though bare minimum, are -- atomic energy, space and defence; transport and telecommunications; power, petroleum, coal and other minerals; and banking, insurance and financial services.
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CM Siddaramaiah alleges ‘criminal conspiracy’ in Sringeri recount, vows legal action
Bengaluru (PTI): Alleging a “criminal conspiracy” by BJP candidate D N Jeevaraj in the Sringeri Assembly poll recounting, Karnataka CM Siddaramaiah on Tuesday said the outcome was manipulated after valid postal ballot votes in favour of Congress leader T D Raje Gowda were tampered with during the recounting process.
Following a Karnataka High Court order on an election petition filed by Jeevaraj, challenging Raje Gowda’s election, the reverification and recounting were conducted on Saturday.
After the reverification and recount of postal ballots for the Sringeri Assembly constituency, votes polled in favour of Raje Gowda were reduced by 255, the returning officer said.
A report on the matter has been submitted to the Election Commission of India for further action, the officer added.
Congress leader Raje Gowda had won the 2023 Assembly polls from Sringeri by 201 votes, defeating his nearest rival Jeevaraj.
Addressing a press conference in Bengaluru, Siddaramaiah said the High Court had directed the recounting of postal ballots and that irregularities were noticed during the exercise conducted on May 2.
“This is a clear case of criminal conspiracy,” Siddaramaiah said, alleging that valid votes cast in favour of Raje Gowda were altered after being accepted by counting agents of all parties, including Congress, BJP, and JD(S).
He claimed that during the recounting of postal ballots, 255 votes were initially accepted as valid by all agents but were later tampered with by subordinate officials.
“There is a second mark on the votes polled in favour of Raje Gowda. They had accepted these as valid votes. Subsequently, another mark was made by officials. This is a clear case of criminal conspiracy,” he said.
When asked who was behind the alleged conspiracy, the CM replied, “It was hatched by Jeevaraj and others. It is planned.”
Siddaramaiah further alleged that the returning officer acted improperly by declaring the result despite the presence of an Election Commission observer during the recounting.
“Immediately after the counting, the returning officer announced the result. He should not have done so; this is against the law,” he said.
He pointed out that Raje Gowda had originally won by 201 votes, but after the recounting, the BJP candidate was declared the winner by 52 votes.
“The BJP has committed a criminal act of conspiracy. This is not vote chori but vote dacoity,” he alleged.
The CM said a police complaint had already been filed by Raje Gowda’s election agent, Sudhir Kumar, and emphasised the need for electoral integrity.
“We want transparency and free and fair elections. That is what our Constitution mandates,” he added.
Stating that the government would pursue legal remedies, Siddaramaiah said, “We are preparing an appeal challenging the returning officer’s announcement in a court of law.”
Responding to a separate query on elections in other states, the CM said there appeared to be an anti-incumbency factor in West Bengal, while results in Tamil Nadu were “surprising,” adding that Vijay’s party was emerging as the largest there.
Following the victory of party candidates in Bagalkote and Davanagere South, Siddaramaiah expressed confidence about future electoral prospects in Karnataka.
“Even in 2028, we will win the Assembly elections. We will come back,” the CM said.
Siddaramaiah added that he would order a forensic examination into the alleged tampering of postal ballots.
