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Bank officers protest IDBI Bank stake sale

Demand govt should strengthen forums like Debt Recovery Tribunal by giving teeth to them

A section of bank officer’s today staged demonstration at Gyan Sangam, a two day retreat for banks and financial institutions, in Gurgaon to protest against government's plans to privatise IDBI Bank.

Harvinder Singh, Senior Vice-President, All India Bank Officers' Confederation (AIBOC) said the proposal and move to bring-down government's stake in below 50% without any apparent rationale is condemnable as it is with ulterior motives.  

"We held peaceful demonstration outside at Venue and handed-over memorandum addressed to RBI governor,” Harvinder Singh told Business Standard. is venue for two-day retreat.

The confederation held an alternative Gyan Sangam last month to dwell on challenges before banks and finalised suggestions for government and regulator’s consideration, he said.

AIBOC has demanded autonomy for board of public sector banks in real sense. The government should strengthen forums like by giving teeth to them and make recovery process faster and less time consuming.

It sought amendment to Indian Penal Code to make willful default a cognizable offence with stern punishment. The promoters and whole time directors of which are willful defaulters should be barred from holding public office, AIBOC said.

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Business Standard
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Business Standard

Bank officers protest IDBI Bank stake sale

Demand govt should strengthen forums like Debt Recovery Tribunal by giving teeth to them

BS Reporters  |  Gurgaon\Mumbai 



Bank officers take to protest against IDBI Bank privatisation

A section of bank officer’s today staged demonstration at Gyan Sangam, a two day retreat for banks and financial institutions, in Gurgaon to protest against government's plans to privatise IDBI Bank.

Harvinder Singh, Senior Vice-President, All India Bank Officers' Confederation (AIBOC) said the proposal and move to bring-down government's stake in below 50% without any apparent rationale is condemnable as it is with ulterior motives.  


"We held peaceful demonstration outside at Venue and handed-over memorandum addressed to RBI governor,” Harvinder Singh told Business Standard. is venue for two-day retreat.

The confederation held an alternative Gyan Sangam last month to dwell on challenges before banks and finalised suggestions for government and regulator’s consideration, he said.

AIBOC has demanded autonomy for board of public sector banks in real sense. The government should strengthen forums like by giving teeth to them and make recovery process faster and less time consuming.

It sought amendment to Indian Penal Code to make willful default a cognizable offence with stern punishment. The promoters and whole time directors of which are willful defaulters should be barred from holding public office, AIBOC said.

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Bank officers protest IDBI Bank stake sale

Demand govt should strengthen forums like Debt Recovery Tribunal by giving teeth to them

Demand govt should strengthen forums like Debt Recovery Tribunal by giving teeth to them
A section of bank officer’s today staged demonstration at Gyan Sangam, a two day retreat for banks and financial institutions, in Gurgaon to protest against government's plans to privatise IDBI Bank.

Harvinder Singh, Senior Vice-President, All India Bank Officers' Confederation (AIBOC) said the proposal and move to bring-down government's stake in below 50% without any apparent rationale is condemnable as it is with ulterior motives.  

"We held peaceful demonstration outside at Venue and handed-over memorandum addressed to RBI governor,” Harvinder Singh told Business Standard. is venue for two-day retreat.

The confederation held an alternative Gyan Sangam last month to dwell on challenges before banks and finalised suggestions for government and regulator’s consideration, he said.

AIBOC has demanded autonomy for board of public sector banks in real sense. The government should strengthen forums like by giving teeth to them and make recovery process faster and less time consuming.

It sought amendment to Indian Penal Code to make willful default a cognizable offence with stern punishment. The promoters and whole time directors of which are willful defaulters should be barred from holding public office, AIBOC said.
image
Business Standard
177 22
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