AIBEA urges Govt to nationalise ICICI bank;to probe financial status

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Lucknow, Oct 18 (UNI) All India Bank Employees Association (AIBEA) today demanded to nationalise the ICICI bank and initiate inquiry to ascertain its financial status.

Talking to mediapersons here, AIBEA General Secretary C H Venkatachalam said the ICICI bank was caught in the net of suspicion after its nexus was established with the American bank Lehman Brothers, which was declared bankrupt recently.

Since then, the officials of the ICICI bank were befooling their customers by assuring them of having a strong financial base, he added.

Mr Venkatchalam further said plummeting shares of the bank from Rs 1,500 to 325 narrates the entire scenario.

The government of India should probe into the bank's working, its finacial status and its alleged nexus with foreign banks, he underlined.

In my opinion, the bank should be nationalised, he suggested.

He said most of the Indian banks were running unaffected with the present crises that had gripped the United States and European countries.

Those who were advocating the American and Europeon strategy for creating a model bank in India were tight lipped over their sudden fall, Mr Venkatchalam said.

Expressing happiness over the working of the banks in the country, the AIBEA General Secretary said the sudden collapse of private American banks had unveiled their wrong policies.

It is high time and the government should now take back the proposal in which it was said that the public sector banks should have 74 per cent of foreign share.

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