Date:18/07/2008 URL: http://www.thehindu.com/2008/07/18/stories/2008071861141200.htm

Tamil Nadu - Chennai

Bank employees begin nationwide campaign

Special Correspondent

It will show up
anti-people policies
of the Centre
It will culminate
in strike called
for August 20

CHENNAI: The All-India Bank Employees Federation has launched a nationwide campaign to highlight what it calls the anti-people bank policies of the Centre. The campaign will culminate in a day’s strike called for August 20.

Federation general secretary C.H. Venkatachalam told reporters here on Thursday that despite the continued assurance that the public sector banks would not be privatised, the Centre had been appointing committees to suggest reforms. The Anwarul Hoda and Raghuram Rajan Committees recommended merger and consolidation of banks.

He reckoned that the government’s objective of financial inclusion was possible only by opening bank branches in rural areas. But very few branches were opened in these areas in the past three years.

The federation’s other demands included more farm loans at a lesser interest rate, steps to recover debts from the corporate sector, encouragement of small deposits through daily collection, revitalising of the cooperative banks and stringent action against wilful defaulters. The campaign would culminate in the “Save public sector banks day” on July 19 and a one-day strike on August 20.

Federation members would meet Governors, Chief Ministers, RBI officials and Collectors and submit memoranda seeking measures to change the banking policies. Bank employees would stage demonstration to press their demands. Mr. Venkatachalam also released a list of “wilful defaulters” in Tamil Nadu. There were 225 defaulters, who owed Rs.1,643 crore to various banks.