 "The new face of banking")
Around ten lakh bank employees plan to go strike on July 29 against banking sector reforms.
The strike was called by United Forum of Bank Unions (UFBU), all the 9 unions viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO.
CH Venkatachalam, general secretary, All India Bank Employees Association said that since the government proposes to go ahead with the banking reforms measures like weakening public sector banks, inadequate capital to public sector banks, consolidation and merger of banks, sanction of more licenses to private corporate companies, privatisation of IDBI Bank, allowing more private capital in regional rural banks, etc., UFUB has decided to express its protest by going on strike.
Moreover, the total bad loans in the bank have gone up to Rs 10 lakh crore and bulk of these bad loans are due from big corporate business houses.
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. Huge bad loans are being provided and written off from the profits of the banks and many lenders are forced to show losses, he alleged.
There are more than 7,000 deliberate and willful defaulters who owe Rs 60,000 crore to the banks. Even their names are not being published. “We want criminal action to be taken on these willful defaulters,” said Venkatachalam.
The decision to go on strike on July 29 was taken in the meeting of the UFUB held today at Hyderabad.
