27 november 2004

aiboc sets up independent commission on banking issues
mumbai: the all-india bank officers' confederation (aiboc) has decided to set up an independent commission on banking & financial policies with s.p. shukla, former finance secretary, as the chairman.

according to aiboc, the commission will have experts from various fields who will address questions relevant to the banking sector. the questions posed to the committee are:

a) was the nationalisation of banks in 1969-80 and the subsequent developments in the banking sector till 1991 in furtherance of the declared economic priorities of the country?

b) what were the failures, if any, of the banking system which impinged on the larger economic issues?