India survived recession because of banking sector: Bansal
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Union Minister for Parliamentary Affairs and Water Resources Pawan Kumar Bansal assured the banking sector that he would take up their demands, while addressing a gathering at the sixth triennial circle general council meeting of the State Bank of India Staff Association (SBISA), Chandigarh Circle, held today.
Bansal said in 2008 that when the world was washed away by recession, it affected the Indian market too. "But still the country has held its head high in the difficult times and the onus for it lies with the banking sector. Even today we are reeling under economic crisis, which has increased the duties and commitments of this sector," he said.
Bansal said the country was battling the odds of direct investments and that the central government has taken several initiatives to redress this problem and is hopeful of succeeding, despite facing opposition against its reformist policies from many quarters. He further spoke about the role of banks in FDI, controlling inflation and the Khandelwal Committee Report.
Secretary, All India State Bank of India Staff Federation and General Secretary of National Confederation of Bank Employees, M V Murali, raised issues of bank employees and advocated changes in working conditions and streamlining of irrational modes of increments.
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