Bank employees threaten strike

The All India Bank Employees’ Association has threatened a strike if banks proceeded with a bailout proposal for cash-trapped Kingfisher Airline. The association also alleged banks had bought the airlines’ shares for 260 per cent more than market prices, and that there had been over-valuation to accommodate the airline. The body has demanded a parliamentary probe into the purchase of shares. Any bailout of the airlines by banks or the government would be anti-national, said the association’s general secretary, H Venkatachalam.