Bank Empolyees stages protest against the merger of public sector banks
Kemmannu News Network, 22-10-2019 13:08:35
Udupi : All India Bank Employees’ Association (AIBEA) and the Bank Employees Federation of India (BEFI) members staged protest at Corporation Bank Founder’s Branch on October 22 against the recent mergers and potential privatization of public sector banks.
Bank Union leaders said that they can understand that mergers are in exercise to masquerade the huge bad loans by hiding them under a bigger balance sheet. It is matter of concern for all of us that the burden of haircuts, concessions and write offs extended to the corporate defaulters are sought to be put on the shoulders of the common banking clientele in the form of penalty charges and increased service charges. Hence fighting against bad loans is a part of our struggle against mergers and privatization.
They said that no economists’ or larger people supporting the merger of banks by the Union government. Every year more than 50,000 to 60,000 recruitments held every year. But, only 10,000 jobs recruited. That means, more than 40000 new jobs are lost.
The Unions are concerned that mergers will mean closure of a large number of brands which will eventually result in job losses. The proposed merger of ten banks and resultant closure of six banks need to be opposed with all its strength.
The leaders of Bank Unions demanding to stopping merger of banks, stopping bank reforms, ensuring recovery of bad loans, taking stringent action on defaulters, not harassing customers with penal charges and increase in service charges, increasing interest rate on deposits, stopping attacks on jobs and job security and adequate recruitments in all banks.
Premanath Poojary of Syndicate Bank, Nithyanand of Karnataka Bank, Raghuramakrishna of Corporation Bank, Ravindra of BEFI, Ram Mohan and others were addressed the striking bank employees.
Nagesh Nayak, Rameshm Manoj Kumar, Jayan Malpe, Gurudutt and Suraj were present. Udupi District Bank Employees’ Association Chief Secretary Herald D’Souza convened the protest.
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