Assam State Committee of CPI warns nationwide protest

Bank merger & privatization

STAFF REPORTER

GUWAHATI: The Assam State Committee of the CPI has cautioned the Centre that if it doesn't roll back its move of bank merger on banks and their privatization it would resort to a nationwide protest.

In a statement issued to the media on Thursday, State CPI secretary Munin Mahanta said, "The Centre's out to kill the duck laying golden eggs. The encouragement being given to the private sector in the banking industry by the Centre needs to be condemned. The banking sector is facing problems due to default in payment of loans by corporate forces. We urge the government to list out measures initiated to check these forces.

"Some bankrupt corporate houses, with backing from the Centre, defaulted loan payment, leading to the increase in non-performing assets to the tune of Rs 8 lakh crore. After the pandemic situation non-performing assets in the country have risen to Rs 14 lakh crore. We demand the government to attach the property of the loan defaulters and their family members to recover the dues."

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