Hyderabad, Jul 4 : Supreme Court Lawyer and social activist Prashant Bhushan has said that more than 50 per cent of people appointed as the Independent Directors of the Banks and PSUs are politicians from BJP.

He pointed out towards the wrongful appointments of the Independent directors that often fall under the ‘conflict of interest’.

Not only in Banks, in many Public Sector Units (PSUs), persons who are not really fit for the job are appointed as Independent Directors, and 50 per cent of them, the only qualification is that they belong to BJP, he remarked while delivering his lecture, on the third day of the month-long AIBEA National Webinars to commemorate the 52nd anniversary of Bank Nationalisation on theme ‘Vibrant Banking for Vibrant India’ and focus ‘people’s money for people’s Welfare’, on Saturday night.

Mr Bhushan said India is in dire need of transparency law in the banking system. Time to demand right to job for every citizen with a standardized minimum wage, he said.

AlBEA in its mission to share all the facets of banking sector invited him to share his perspective on the theme ‘People’s Money for People’s Welfare’.

The Senior Advocate also pointed out that our Banks are facing serious problems because of continuously increasing bad loans, especially pertaining to the huge corporate companies.

Elaborating further, Mr Bhushan discussed on various results of the undue pressure by the government under which the Public Sector Banks have been operating.

‘Banks were custodians of public money, hence the ownership of Banks holding the money of common people of the country could not be left to by private entities. That was the philosophy that guided Nationalisation of banks five decades back which has served the cause and has much relevance in the contemporary times also’, he added.(UNI)