Nationalisation for developing economy: P.M.

NEW DELHI, July 21 (PTI)—Prime Minister, Mrs. Indira Gandhi, today declared that nationalisation of banks will lead to development of national economy and progressively reduce disparities between the rich and the poor and between the advanced and the backward regions. Pledging government efforts to make the measure a success, Mrs. Gandhi appealed for co-operation from bankmen and their associations, saying dedication in the discharge of their daily task and courtesy and consideration in their dealings with the constituents would be invaluable. “Bankmen have now become employees of a publicly owned and socially responsible system,” she observed. Mrs. Gandhi was repeatedly cheered in the Lok Sabha when she made her statement after the Deputy Speaker ruled out objections from the Swatantra and Jan Sangh.