IIA decries 'excessive' closure of banks in UP

Lucknow, October 30 (UNI) Indian Industries Association (IIA) has decried the ''excessive' closure of banks in Uttar Pradesh resulting in heavy economic losses to business and industry.

IIA president Tarun Khetrapal said since October 20, the banks remained closed for 9 days. ''The industry is facing serious challenges due this situation.'' Meanwhile, the IIA has already approached the central government to avoid such situations in future.

IIA held a meeting here on Saturday in this regard, D S Verma, executive director, IIA told UNI here today.

''The bank holidays have resulted in losses worth several hundred crores of rupees, which is yet to be quantified,'' he claimed.

''We have requested the Prime Minister and Union Finance Minister to take a serious note of this situation and announce the remedy for future,'' Mr Verma added.

Since October 20, till date business and industry in UP could find the banks open only for 2 days till October 31.

''Consequently, the banks are open only for three days in a span of 12 days between October 20 and 31. This will definitely affect the progress of industries as well as the government revenue as a whole,'' Mr Khetrapal justified.

Meanwhile, IIA general secretary Anil Gupta claimed the business and industry was not able to make transaction due to excessive closure of banks.

''The loss to industry and government revenue due to this situation will be exorbitantly high which will be difficult to recover,'' he added.

Former IIA president Ganesh Chaturvedi even expressed anguish over the disfunctioning of the government due to elections.

''For the Past one-and-half-months all government officers are busy with the civic polls and we are finding it difficult to pursue the urgent matters of industry with powers-that-be,'' he added.

Deepak Virmani, IIA Labour Working Group Chairman said the state government had issued an order to announce a paid holiday in industries on October 28 and 31, and November 3, giving reference to Section 135-B of Peoples Representation Act 1951.

''The said section although does not have any provision for announcing such paid holiday. We will represent against this discussion to the government and the Election Commission,'' he informed.

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