Bad loans in the bank accumulate to
Rs 3.15 lakh crore in four years, say unions
Rs 3.15 lakh crore in four years, say unions
Chennai:
More than 1400 bank branches and 600 ATMs across the city would be hit on Wednesday as bank employees, including officers, go on a day-long strike to protest against bank reforms and non-implementation of wage revision for more than one year.
Nine bank unions under the umbrella of United Forum of Bank Unions are backing the stir in which more than 10 lakh bank employees and officers of public sector banks, private banks and foreign banks would participate, according to All India Bank Employees’ Associationn general secretary C H Venkatachalam.
Venkatachalam said that the bank emploees are demanding immediate wage revision settlement and protesting against the ongoing banking sector reforms. A protest would be staged in front of district collectorate at around 10.30 am.
“The last wage settlement in the banking sector expired on October 2012 and hence a revised settlement is due from November 2012. “But since the last one year, the discussions have been tardy and hence UFBU gave the strike call,” Venkatachalam said.
G V Manimaran, general secretary of Canara Bank Officers Association and senior vice-president of All India Bank Officers Confederation told Express that the stir is also against the Union government’s plan to allow foreign banks operating in the country on nearly equal terms with Indian banks.
Interestingly, the stir was originally planned on December 19 but since three states had holidays on that date, the stir was rescheduled on December 18, Manimaran said.
He said the government’s move to allow foreign banks to convert their local operations from a branch structure to being subsidiaries would hit the public sector as well as some private Indian banks.
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