AIBOA Strike on 12th and 13th July 2016
ALL INDIA BANK EMPLOYEES’ ASSOCIATION
Singapor Plaza, 164, Linghi Chetty Street, Chennai-600 001
ALL INDIA BANK OFFICERS’ ASSOCIATION
A.K.Nayak Bhavan, 14, 2nd Line Beach, Chennai-600 001
CIRCULAR TO ALL UNITS
16th June, 2016
Dear Comrades,
AIBEA-AIBOA decide to plunge into immediate action to oppose
attempts to denigrate Public Sector Banks and to protest against
proposed merger and consolidation of Banks with a view to divert the
people’s attention from the Himalayan bad loans in Banks .
12th July, 2016 – All India Strike in 5 Associate Banks
13th July, 2016 – All India Strike in ALL BANKS
All our units and members are aware of
the increasing attacks being heaped on the public sector banks and the
challenges faced by the PSBs.
In the name of banking sector reforms, the attempt is to privatise
the Banks and hand them over to the private corporates to enable them to
further loot the precious savings of the people.
The attempt is to consolidate the Banks
to make them bigger with a view to globalize them instead of expanding
the Banks and reach the common people within our country.
Already our Banks are bleeding due to alarming increase in bad loans,
thanks to the deliberate default by the corporates and big business
enterprises. Instead of taking tough measures to book the culprits and
recover the loans, efforts are taken to hand over the banks to very same
defaulters.
It is very clear that all their talks of banking reforms and
proposals of merger and consolidation are only a ploy and game plan to
divert the attention of the people from the massive bad loans in the
Banks.
Our country needs strong public sector banks and not necessarily big
banks or global-sized banks. Our country needs banking expansion and not
consolidation of banks and shrinkage of banking services to people.
The focus should be the alarming increase in bad loans to the tune of
about R. 13 lac crores. The efforts should be to recover the money by
taking stringent measures and not hush it up through provisions,
write-offs, CDRs and SDRs.
If the loans have been sanctioned wrongly, action should be taken on
the concerned Executives. If the borrower has cheated the Banks,
criminal action should be taken against the defaulter.
Providing for the bad loans, clean-up of Balance Sheet and making the
Banks to incur the losses is not the solution to the problem. It is
obvious, all these are only diversionary tactics to escape from the
accountability for the huge bad loans.
Kingfisher Mallya is only the tip of the iceberg. There are many more
sharks in the ocean of bad loans in the Banks. Why the list of
defaulters is not being published by them? Why criminal action is not
taken on the willful corporate defaulters? Why all velvet treatment to
them? Why the attempt to convert the bad loans as equity investment in
these defaulter companies? Is it the corporate governance and good
governance policy of the Government ?
In IDBI Bank, 10 years ago, about Rs.9000 crores of bad loans were
taken out of their books. Now another Rs. 19,000 crores is the bad loan.
Instead taking action to recover these bad loans, the Government wants
to privatise and sell the Bank to the very same private sector which is
responsible for these huge loan default in IDBI Bank.
Hence AIBEA and AIBOA have decided to plunge into immediate
action to oppose attempts to denigrate Public Sector Banks and protest
against proposed merger and consolidation of Banks with a view to divert
the people’s attention from the Himalayan bad loans in Banks.
Programmes
| 20th June |
Demonstrations in all centres all over the country |
| 30th June |
Dharna in all State Capitals |
| 12th July |
All India Strike in the 5 Associate Banks |
| 13th July |
All India Strike in all the Banks |
Comrades, while we are proud that we
fought and achieved nationalisation of Banks, it is equally our duty to
fight against the attacks on public sector banks. People’s money cannot
be allowed to be looted like this. Public Sector Banks should be saved.
They are nation building institutions. They must remain so.
It is time to move, time to fight. We exhort all our units and
members to carry out the programme successfully and make the strikes a
total success.
With greetings,
Yours comradely,
S. NAGARAJAN
GENERAL SECRETARY
AIBOA
C.H. VENKATACHALAM
GENERAL SECRETARY
AIBEA
