SLR for banks draws flak from CITU

By Staff
|
Google Oneindia News

Bangalore, Jan 13: The Centre for Indian Trade Unions (CITU) todaycame down heavily on the Union Government's move to bring downStatutory Liquidity Ration (SLR) for banks.

Addressing newspersons here, CITU Secretary W R Varadarajan saidthat despite stiff opposition from the Left parties, the Congress- ledUPA Government at the Centre had announced the decision to lower SLRmandate to banks. ''The deposits made by public in banks would not besafe with this decision,'' he claimed.

Criticising the UPA Government for pursuing the previous NDAGovernment's economic policies resulting in a wide gulf between ruraland urban areas, he said the recent carnage in Assam, in which 46people were gunned down by ULFA activists, was a reflection of thefrustration prevailing in rural areas due to the impact of sucheconomic policies.

Mr Varadarajan said the 12th National Conference of the CITU, tobe held here for the first time from January 17, would discuss threecore issues of leaning towards Imperialism, rise of Communalism and theadverse impact of World Bank scripted Economic policies. The four-dayconference, which would be attended by over 2,500 delegates andinvitees from over 43 countries, would scrutinise the role of communalforces, attack on labour rights, the economic policies ofprivatisation, disinvestment and indiscriminate entry of FDI in varioussectors.

The conference would sit in six commissions and hold comprehensivediscussions on policy issues, including the approach paper for the 11thfive-year plan, WTO - present issues and challenges and SpecialEconomic Zones. The new leadership of the CITU, its General Council andWorking Committee would be elected on January 21, he said.


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