The United Forum of Bank Unions (UFBU), representing nine trade unions of officers and workmen across all banks, has expressed deep concern and strong protest against the remarks made by the Union Finance Minister during the Diamond Jubilee Valedictory Lecture held on November 4, 2025, at the Delhi School of Economics, University of Delhi.

While responding to a student’s apprehension that privatization may restrict banking services to a privileged segment of customers, the Finance Minister appeared to dismiss the concern and instead portrayed privatization in a positive light.

UFBU categorically rejected this narrative and reiterated that public sector banking has been the backbone of India’s financial inclusion, social justice lending, rural outreach, and national economic stability.

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