Proposed bank strike unnecessary: FM

Union Finance Minister P Chidambaram has termed the proposed nationwide strike by bank employees on September 24 as 'unnecesary' and said the Centre was ready to hold talks with bank unions.

Union Finance Minister P Chidambaram has termed the proposed nationwide strike by bank employees on September 24 as 'unnecesary' and said the Centre was ready to hold talks with bank unions.

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"The strike is not necessary. The government is ready to hold talks with bank unions", he said after inaugurating a Bank of India branch Sivaganga on Sunday night.

Referring to the collapse of some financial institutions in the USA, he said banks in India were insulated from the crisis and their financial position was quite strong.

On education loans, Chidambaram said a total of 12.51 lakh students had received Rs 20,000 crore loans as of March 31 this year.