Bank staff body to launch campaign against banking reforms

  • HT Correspondent, Hindustan Times, Patiala
  • Updated: Mar 22, 2015 01:23 IST

To raise voice against privatising savings of the people, the All India Bank Employees Association (AIBEA) has decided to launch a national campaign against the banking sector reforms from April 20.

Sharing this information, CH Venkatachalam, general secretary of the association, said that the banks today deal with the money of more than 80 lakh crore people as deposit in the banks. This money belongs to the people and not to the government or the RBI. These savings of the people should be protected only by strengthening public sector banks.

He also mentioned that 40 private banks have collapsed in the past 30 years due to mismanagement. He also blamed that in the name of banking reforms, the government wants to privatise the banks and also to allow corporate industrial houses to start their own private banks.

He said that the RBI wanted to allow private companies to start small banks and payment banks in the districts and local areas, which can be dangerous for the savings of people.
Talking about the national campaign, he informed that the association with publish the full list of banks loan defaulters.

He said that the association will launch a national campaign on these banking reforms and bad loan issues and would also organise strike at the national level demanding policies to strengthen public sector banks and to recover the bad loans.

He said that from April 20, bank employees will collect signatures of the people and submit to the Prime Minister demanding people-oriented banking policies.

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