CITU

Land Monetisation: Another Ploy to Facilitate Loot of National Assets

THE Centre of Indian Trade Unions (CITU), in a statement issued on March 11, has condemned yet another destructive drive of the Narendra Modi government to expeditiously facilitate the loot of national assets by the corporate lobby. A wholly owned public sector entity, named National Land Monetisation Corporation (NLMC), is being created to sell out the huge land and allied assets at the disposal of public sector companies and departmental undertakings in favour of the private corporate class, both foreign and domestic.

CITU Denounces SBI’s Backdoor Privatisation

IT has been reported that the State Bank of India (SBI) has signed up with the Reliance Money Infrastructure (RMIL), an Anil Arnbani group company, a 'business correspondent' deal to source a range of banking services. The deal authorises the RMIL to identify borrowers; collect, process, and submit loan applications; promote credit groups; and take up post-sanction monitoring, follow-up and recovery. As the service provider, the RMIL will also collect small-value deposits; sell micro-insurance, mutual fund and pension products; and receive and deliver small-value remittances.

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