The Hindu : Bank staff plan protest against privatisation

Online edition of India's National Newspaper
Tuesday, Nov 26, 2002

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Bank staff plan protest against privatisation

By Our Special Correspondent

NEW DELHI Nov. 25. The All India Bank Employees' Association (AIBEA), today announced that its members from all over the country would take out a "morcha'' here on November 27 to protest against the privatisation of public sector banks and failure of the Government to initiate measures to effectively deal with the loan defaulters.

Addressing a press conference, Tarakeswar Chakraborti, general secretary of the AIBEA, said the morcha would start from the Ramleela ground here and culminate at Jantar Mantar. A delegation of the AIBEA led by its president would submit a 7-point charter of demands to the President of India.

While opposing attempts on privatisation of public sector banks, coporatisation of IDBI, bifurcation of UTI and its partial privatisation, Mr. Chakraborti asked for publication of the list of defaulters. He also favoured introduction of a clause disqualifying defaulting politicians who have not cleared their loan dues to the banks from contesting an election. While seeking opening of more branches particularly in rural and semi-urban areas and increase in interest rates of small savings and savings bank deposits, the AIBEA demanded steps for recovery of bad loans, totalling more than Rs. 1,50,000 crores.

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