AIBEA threatens to go on nationwide strike on Aug 1

Dehra Dun, July 1 (UNI) All India Bank Employees Association (AIBEA) has threatened to go on a nationwide strike on August 1 against privatisation of banks and outsourcing in banks.

Uttaranchal Bank Employees' Association Secretary Jagmohan Mendritta while talking to reporters here said that AIBEA has deided to go on strike in favour of their demands including withdrawal of RBI circular on Outsourcing of banking services and its decision on outsourcing of clearing operations.

In addition, withdrawal of amendment to Section 12(2) of the Banking Regulation Act on removal of ceiling on voting rights in banks and filling up of nearly one lakh vacancies in banks through recruitments and expeditious extension of one more option for pension are to be fulfilled, he said.

''Unmindful of its negative implications, the government was encouraging and forcing the banks to go for further IPOs with intention to reduce the government's equity share-holding in banks upto 51 per cent, thereby privatising the banks up to 49 per cent and pushing it to the border of privatisation,'' Mr Mendritta said.

Taking strong exception to the government's intention to bring in the legislative changes to facilitate handing over banking sector to the foreign capital, Mr Mendritta said ''The RBI's announcement that Foreign Direct Investment will be allowed up to 74 per cent into the capital of our private banks would result in these private banks being taken over by foreign capital will subsequently be detrimental to our country's economy.'' He added that while the total Capital of the present 28 private banks in the country was only around Rs 3,500 crores, the total deposits of the common people in these banks were more than Rs 3,50,000 crores.

It is necessary that this retrograde move is fought back and government pressed on to withdraw the proposed deletion of Section 12(2) of Banking Regulation Act on voting rights in banks, he emphasised.

All unions would submit a memorandum to Finance Minister, demonstrate at branch and central level and stage dharna at all state capitals and district headquarters on different days through out the month of July, he added.

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