E-Paper
Bank strike cripples trade
NORMAL FUNCTIONING in all branches of nationalised banks remained paralysed on Friday following the call for a nationwide strike to register their protest over the alleged move of Union Government to hand over banks to private agencies. The employees took out a procession and held a meeting on the premises of the Central Bank of India. The functioning of clearing house crippled and trade worth Rs 50 crore was affected due to strike.
NORMAL FUNCTIONING in all branches of nationalised banks remained paralysed on Friday following the call for a nationwide strike to register their protest over the alleged move of Union Government to hand over banks to private agencies. The employees took out a procession and held a meeting on the premises of the Central Bank of India.
The functioning of clearing house crippled and trade worth Rs 50 crore was affected due to strike. Expressing his views on this divisional president of Bank Employees’ Union KK Tiwari said Reserve Bank of India had directed to handover all work of nationalised banks to private agencies. They said, “We are opposing the directive as it would promote financial bungling and common people would suffer loss.” Tiwari said the proposal would also curtail the chances of the employment in the bank section and the secrecy of the accounts would not be maintained. He said the clearance of cheques from outsourcing is highly condemnable.
Tiwari said the RBI was trying to modify Article 12 (2) of Bank Regulation Act and the UPA Government had already cleared the participation of 74 per cent foreign investment in the banking sector by 28 private agencies.
He expressed apprehension that Rs 1,500 crore people who are safe with nationalised banks would become the property of private agencies and they would be misused.
Office bearers of the union UPN Singh, OP Tripathi and others demanded the solidarity among the employees to mount pressure on the government to withdraw the proposal.
