Date:09/11/2009 URL: http://www.thehindu.com/2009/11/09/stories/2009110952200300.htm

Kerala - Kochi

Aim for socialism, bank officers told

Special Correspondent

KOCHI: The seventh triennial conference of State Bank of Travancore unit of the Associated Banks’ Officers’ Association concluded here on Sunday.

The conference was inaugurated by former judge of the Supreme Court, V. R. Krishna Iyer on Saturday evening.

Mr. Iyer, in his inaugural speech, termed the move for privatisation as a very dangerous one. He called upon the members of the organisation to play a creative and revolutionary role to achieve the goal of socialism.

Public sector banks

Mr. Iyer pointed out that a large number of Indians were below the ‘hunger line’. Public sector banks are the backbone of the country and elimination of poverty should be the focus of the discussions and policies of the organisations. So long as there are desperate people in the country, the goal of socialism can’t be achieved. “We can’t afford privatization and liberalization. What we want is Indianisation,” he said.

Welcoming the guests, P. V. Sivasankara Pillai, general secretary of the organisation, said it had rallied against the dangers of liberalisation, which was being implemented in the guise of financial sector reforms.

Managing Director of State Bank of Travancore, A. K.Jagannathan, Kochi Mayor Mercy Williams and various bank organizations’ leaders spoke.Earlier, the association members took out a rally prior to the inauguration of the meeting.