Bank employees protest RBI stance on privatisation

Tribune News Service

Bathinda, May 16

The United Forum of Bank Unions held a demonstration in front of the administrative office of State Bank of India here today. 

More than 250 bank officers and staff from SBI gathered and raised slogans against the policies of the Central government and Reserve Bank of India. 

The UFBU has launched a nationwide agitation to ‘save’ public sector banks and against the statements made by RBI Governor Urjit Patel and Deputy Governor Dr Viral Acahraya.

Lajpat Rai Goyal, deputy general secretary of SBIOA, said the Central government had an agenda to destroy the public sector by inviting 100 per cent foreign direct investment. 

He said the public sector banks were established to serve the common man and not for the sole purpose of profits. 

Goyal said the public sector banks were already facing multiple challenges. 

The bad loans are increasing every quarter and has reached alarming proportion of more than Rs 13 lakh crore, he added. 

No effective steps are being taken to deal with the defaulters and recover the loans, he said. 

Everyone is aware of the fact that the bulk of the bad loans is attributable to private corporate and business enterprises, Goyal said. 

It is disheartening to note that instead of recovering the bad loans from these delinquents, all types of concessions are being given to the defaulters and bad loans are being sold away at cheaper price, Goyal added. 

He said that it was surprising that the RBI Governor and Deputy Governor had made public statements suggesting re-privatisation of public sector banks, disinvestment, merger and consolidation and reduction of staff through voluntary retirement scheme as measures to solve the NPA issues. 

He demanded that the RBI should come out with a clarification that how these measures could resolve the problem of NPAs. 

Gulshan Oberoi, regional secretary, SBISA, said the officers and staff of public sector banks were capable of turning the weak banks into profit-making enterprises, provided the RBI took some serious action on NPAs. 

He demanded that the RBI should reimburse the cost of demonetisation to the banks, which would augment their capital. 

Oberoi also demanded that early wage revision, which is due from November this year and implementation of five-day banking plan. 

Amrik Singh, treasurer of the AIBOC, Bathinda, said the RBI should publish the list of willful defaulters. 

He demanded that the Central government should immediately clear appointments of the board of directors representing workmen and officers in public sector banks.