Karnataka - Belgaum   

Banks criticised for adopting `LPG' policy

By Our Staff Correspondent

BELGAUM, DEC. 13. G.D. Nadaf, president of the State Bank of India Officers' Association, Karnataka, has expressed apprehension about the implications of liberalisation, privatisation and globalisation (LPG) on banks, economy and agriculture in the country.

Mr. Nadaf was inaugurating the Belgaum Zonal Conference of the association here on Sunday.

He criticised the Government and the managements for making the banks profit-driven. "This is reversal of nationalisation of banks done in 1969 to tap resources in rural and semi-urban areas," he said.

G. Muthuswamy, association general secretary, in his keynote address, criticised the banks for importing technology and modern systems when they were available in India.

Over 300 officers and association leaders working in 23 branches of the State Bank of India in Belgaum zone participated in the conference.

The main branch of the bank in Belgaum hosted the conference.

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