Bank employees union will declare 7,000 wilful defaulters names on July 19

Right ahead of the scheduled banking employees' strike, United Forum of Bank Unions (UFBU) said that it is going to announce names of 7,000 wilful defaulters on July 19.

The association has also announced one day strike to oppose anti-people banking reform policies of Central government. About one million employees of banks will join the strike on July 29.

"Bad loans are the biggest issue with the banks nowadays and public sector banks are the most affected. We are going to announce the names of about 7,000 wilful defaulters on July 19. It is a people's money and public must know who has stolen their money," said C H Venkatchalam, general secretary of All India Bank Employees Association.

According to Venkatchalam, around Rs 70,000 crore public money has been blocked with wilful defaulters in India.

He said: "No serious action is being taken by the government and RBI to recover these huge bad loans. On the other hand, concessions are being given to them. Government must take criminal action against wilful defaulters."

Blaming to the government the association said that inspite of encouraging the public sector banks, government is promoting private sector banks.

Venkatchalam said: "Private banks are not working for people interests like public sector banks in India, they use the people's money for their own purpose."