10:07 PM
No bank strike today; 5 unions to hold demo after office hours
THERE is a wrong reporting in a section of the press and TV media about strike in the banking industry on May 23. 2014. Eastern Maharashtra Bank Employees' Association (EMBEA) has clarified that there is no strike call given by any constituent unions of United Forum of Bank Unions (UBFU) and banks will function normally on May 23. 2014.
B N J Sharma. General Secretary of EMBEA. in a press release, said that the units and members were aware that the Reserve Bank of India (RBI) had appointed the P J Nayak Committee, which had recently submitted its report with various recommendations like privatisation of banks, reducing Government's capital in public sector banks (PSBs) to less than 50 per cent, merger of public sector banks, transferring the ow ner.ship of public sector banks to an investment company, repeat of the Bank Nationalisation Act. hiking voting rights of shareholders in public sector banks from 10 per cent to 26 per cent. etc. In short, the Committee wanted removal of Government's control to hand over the banks at priate hands. They wanted to go back to the pre-1969 model of private sector banking.
The main challenge before the banks was the increasing bad loans. Bulk of these bad loans were due from private corporate houses, business enterprises and industrial houses. It was not wise to hand over the banks to the very same private sector which was responsible for the huge bad loans in the banks.
To express their strong protest and objection lo tlie Nayak Commiucc recommendations and to demand rejection of the report, five major unioas - All India Bank Employees' AssociatioiMAIBEAI. All India Bank Officers' Association (AIBOA). Bank Employees Federation of India (BEFI). Indian National Bank Employees Federation (INBEF) and Indian National Bank Officerss Congress (1NBOC) — had given a call lo all units and members to organise and hold country-wide demon-strations after office hours on May 23.2014. In Nagpur. massive demonstrations will be held on May 23. 2014 at 5.30 pm at Samvidhan Chowk. in front of the RBI.
EMBEA has appealed to all officers and employees to attend the protest demonstrations in large numbers against Nayak Committee recommendations to privatise PSBs.
B N J Sharma. General Secretary of EMBEA. in a press release, said that the units and members were aware that the Reserve Bank of India (RBI) had appointed the P J Nayak Committee, which had recently submitted its report with various recommendations like privatisation of banks, reducing Government's capital in public sector banks (PSBs) to less than 50 per cent, merger of public sector banks, transferring the ow ner.ship of public sector banks to an investment company, repeat of the Bank Nationalisation Act. hiking voting rights of shareholders in public sector banks from 10 per cent to 26 per cent. etc. In short, the Committee wanted removal of Government's control to hand over the banks at priate hands. They wanted to go back to the pre-1969 model of private sector banking.
The main challenge before the banks was the increasing bad loans. Bulk of these bad loans were due from private corporate houses, business enterprises and industrial houses. It was not wise to hand over the banks to the very same private sector which was responsible for the huge bad loans in the banks.
To express their strong protest and objection lo tlie Nayak Commiucc recommendations and to demand rejection of the report, five major unioas - All India Bank Employees' AssociatioiMAIBEAI. All India Bank Officers' Association (AIBOA). Bank Employees Federation of India (BEFI). Indian National Bank Employees Federation (INBEF) and Indian National Bank Officerss Congress (1NBOC) — had given a call lo all units and members to organise and hold country-wide demon-strations after office hours on May 23.2014. In Nagpur. massive demonstrations will be held on May 23. 2014 at 5.30 pm at Samvidhan Chowk. in front of the RBI.
EMBEA has appealed to all officers and employees to attend the protest demonstrations in large numbers against Nayak Committee recommendations to privatise PSBs.
Posted in: News 2014
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