A bank employees' union has asked the government to reject recommendations by the Nayak committee on bank privatisation saying the report would not be against national interest.
"The report of the committee, which was appointed by the RBI Governor, deserves to be rejected by all authorities," All India Bank Officers Association (AIBOA) General Secretary S Nagarajan said.
He also said that banking should also be brought under Banking Audit Commission identical to CAG.
"We have also written to the President of India seeking his immediate remedial action to safeguard the public sector banking from ever growing bad loans due to various external factors," he told reporters here today.
The committee, headed by former Axis Bank chairman P J Nayak, had earlier suggested the government to cut its holding in public sector banks to below 50 per cent.
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