Thread by @sunilpratap120

Why #IndiaNeedPSBs A legitimate question from all the stakeholders, customers and our under priviledged public.

India had Nearly 600 banks in pre independence era out of which 559 private banks in India failed, with numerous people losing their life’s savings. 1/n

A total of 736 private banks failed, amalgamated, ceased to function or transferred their liabilities and assets, or went into liquidation between 1948 and 1968 in whole.
So what can be done to prevent these failure?

Nationalisation was the first step which took at the time to place confidence our customers in banking system.
Now the question arises Why nationalization was needed?
Coz,
The private banks primarily catered to large businesses
Critical sectors such as agriculture,

small-scale industries and exports were lagging
The moneylenders exploited masses
It was only after the nationalisation of the biggest banks in India in 1969 that the banking system attained stability.

From 1969,36 private bank have been put under moratorium in public interest, due to mismgmnt and hav gone out of existence. Several of them were merged with healthy PSBs, such as high-profile case of the Global Trust Bank which was merged with the Oriental Bank of Comm in 2004.

REMEMBER!! GLOBAL CRISIS 2008
A no of Private global banks went bankrupts likeLehman Brothers and many like Merrill Lynch, AIG, Freddie Mac, Fannie Mae, HBOS, Royal Bank of Scotland, Bradford & Bingley, Fortis, Hypo and Alliance & Leicester all came within a whisker of doing so.

Whereas NONE of the INDIAN bank failed due to their controlled lending policy. And Guess who came in support of those Private global banks that was Government, now think if private banks are really efficient, why were these banks given bail out package or merged with others.

PSBs have become the Neelkanth Mahadev to swallow the poison of failure of many private banks in India. The recent example is of YES BANK.. which was saved by SBI.....Imagine the plight of PMC bank customer

Have you ever imagined why PSBs who have good operating profits post losses quarter after quarter?

So, listen all of their profit goes for provisioning of NPAs and who are these NON-PERFORMING ASSETS of banks (List attached)

Twelve cases of NPAs have been referred to NCLT for IBC proceding involving Rs. 253,760 crores. Who are they? Aren't all of them top private corporate borrowers? Why they did not repay the loans? Is it their efficiency? Should banks be privatized and handed over to these people?

Now to our beloved stakeholders and customer If you think Privatisation of PSBs are going to help you and let you experience the banking of US then let me inform you that Since October 2000, 555 private banks have failed in the US.

Now talking about productivity and efficiency of employees of PSBs ..you look yourself how much business per employee (in PSBs) are giving but it doesnot convert into profit per employee as all the profit goes for provisioning of NPAs

The problem of PSBs lending huge sums of money to the likes of Nirav Modi illegally and without due diligence cannot be solved by handing over PSBs to the likes of Nirav Modi and Mallya @FinMinIndia #949Days @baujidesi @rawatprashantt

Now the conclusion is that, the hard-earned money of the common people of India would be considerably less safe in the hands of private banks.

Now its on your intellect , that do #IndiaNeedPSBs ??
@Bankers_United @AnuragChandraa @idesibanda @Saranshsrv @sanket @UnrollThread

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