AIBEA to stage protests on September 15,20

All India Bank Employees Association today said it would go on a two-phase nation-wide agitation on September 15 and 20 demanding that the Centre ensures public sector banks were strengthened and that no attempt be made to privatise them.
AIBEA General Secretary C H Venkatachalam told reporters that "it was indeed sad that the Centre was making moves to encourage privatisation of banks". There was also attempt to bring in merger of banks in the country, he charged.
AIBEA opposed these moves tooth and nail and to highlight the demand, it would stage agitations in two phases, he said.
Venkatachalam said the Association welcomed the Pradhaan Mantri Jan Dhan Yojana to provide bank accounts to every household. This would be of help to ensure the country's fast economic development, he said.

Venkatachalam, however, cautioned that there should be no scope for private players to make inroads into banking sector as "they would only pamper the big capitalists."
There should be, on the other hand, steps to strengthen public sector banks and branches of public sector banks should be opened district wise to ameliorate the poor. Banks should be under government control, he asserted.
He also asked the Centre to take stringent measures to recover bad loans and wilful default of loans should be declared a criminal offence.