AIBA to launch national campaign on banking

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Kottayam, May 3: All India Bank Employees' Association (AIBA) will launch a two month long national campaign highlighting the various attacks on the banking sector. AIBA General Secretary C H Venkatachalam said the campaign would culminate in an All India strike during the middle of July.

Eventhough the government had given an assurance that the public sector banks would not be privatised, various committees being appointed to suggest further reforms had suggested ways to reduce government ownership of banks and public sector banks should be delinked from government and allowed to seek private and foreign strategic partners.

If FDI was allowed, it would instantly make the banks vulnerable to be taken over by foreign capital, he said In the campaign the AIBA will oppose privatisation of public sector banks and Hoda committee report and Raghuram Rajan committee report and unrestricted entry of FDI in banking sector. The AIBA was opposing merger of public sector banks.

UNI

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