Thiruvananthapuram, July 12 -- Bank Employees Federation of India has alleged that the Centre's move to sell shares of State Bank of India (SBI) worth Rs 25,000 crore SBI) is an open attempt to privatize the bank in a phased manner sacrificing national interests.
"In 2017, the bank had sold 522 million shares. This reduced the government's stake in the bank to 56.92 percent. Now, with the completion of the targeted share sale, the government's stake will diminish below 55 percent," BEFI vice president Saji Varghese said.
"The sale of shares through qualified institutional placement has been reported by national media," he added.
"Despite the vacancies of about one lakh employees and officers, the outsourcing of jobs and the deployment of...