All nationalized banks in India should be privatized?

Question

All nationalized banks in India should be privatized?

Answer 1

No, Neha,  not at all !

Private banks are charging exorbitantly for normal services.

Where as Nationalised Banks, such as "Bank of Baroda",

"State Bank of India", "Punjab National Banks" are providing good services. They are not as stylish and modern like private banks, like ICICI, HDFC....but certainly, very satisfactory, services at for reasonable charges.

No Bank, can match the number customers served by "State Bank of India" and their associate banks !!

Answer 2

NO.........................................

Answer 3

Not all but some of them should be.

Banks like Bank of Baroda, State Bank of India are providing good services....not as stylish and modern like private ones like ICICI, HDFC....but yes, satisfactory.

One thing is for sure, our moneys are safer in the hands of nationalised banks than private banks and they are less costly than private ones. Private banks charge a lot. We pay a lot to them sometimes without even knowing for what we pay to them.This is not the case with Nationalised banks.

Moreover, nationalised banks like BOB, SBI are no less than ICICI, HDFC. They provide the same services like private ones at less cost.

But yes, some nationalised banks other than BOB and SBI(Names I would not say) may be either privatised or merged with well performing public banks.

Answer 4

May not be a great idea... look at what's happening in North America... banks charge ludicrous service charges even when you use the ATM. They charge you for writing a check. They charge you for updating your pass book. Free Enterprise and privatization are good in some sectors but not in all sectors especially when the gaps between the haves and the have nots is tremendous as in India. Nationalisation is essential in core industries like Banking, healthcare, Esential services so as to esnure that companies do not sell out to MNCs that do not have the country's interests in mind. They are motivated purely by their commitment to shareholders and in increasing returns for shareholders.