Parties oppose rural banks’ privatisation

HYDERABAD: All political parties setting aside their differences opposed the privatisation of regional rural banks (RRBs) for the sake of profits overlooking the interests of the people living in rural areas.
At a state-level seminar on ‘Chalapathi Rao Committee Suggestions - Implications on Regional Rural Banks� held on Sunday, leaders of Congress, TDP, BJP and the left-wing parties opposed the recommendations of the committee to allow private investment in rural banks.
BJP president Chilakam Ramachandra Reddy complimented the role of RRBs in extending loans to small and marginal farmers and assured that he would take up the matter with the Centre. TDP Rajya Sabha member M Jagannadham demanded more incentives to the employees of the RRBs for their services in the rural areas. He criticised the suggestions of the Chalapathi Rao Committee. APCC vice-president Gade Venkat Reddy alleged that a conspiracy being hatched to dispose of public sector undertakings to private investors.