Banking operations hit in Patiala

Tribune News Service
Patiala, March 15

Banking operations across the district were hit following a two-day nationwide bank strike against the proposed privatisation of public sector banks.

One million bank employees and officers working in various banks across the country started the 48 hour long strike under the banner of the United Forum of Bank Unions today.

A massive rally was held in front of Punjab National Bank, Circle Office, Chhotti Baradari, here.

Addressing the rally, SK Gautam, Punjab Bank Employees Federation (PBEF) general secretary and All-India Bank Employees Association (AIBEA) joint secretary, claimed that the decision of the Centre to privatise public sector banks was “not at all in the interest of the country and common people”.

“In the history of Indian banking, 1,639 banks failed between 1913 and 1960, and another 263 banks failed between 1961 and 1968. Post-1969 till now, 25 banks have been merged into nationalised banks,” said Gautam.

Vinod Sharma, joint secretary, All-India Bank Officers’ Association (AIBOA), claimed that the expansion of banking industry and development in our country was possible only after the nationalisation of 14 major private banks in 1969 and six more in 1980.

Yadvinder Gupta, PBEF secretary and president of the State Bank of India Employees Union, Patiala, said that precious savings of the people were mobilised and brought into banking system.

“We have been demanding stringent measures to recover the large corporate stressed assets which are the cause of concern to the banks, including strong recovery laws and taking criminal action against willful defaulters,” said Gupta.

The rally was also addressed by Sarabjit Singh, Samir Mantrao, Sanmeet Singh, Manga Ram, Dev Raj, Lovleen Saini, Harjit Singh, Paramjit Singh, Balbir Sharma, Varinder Sharma, SS Gill, Hoshiar Chand, Divya Pal, Tarun Kaura, Razak Mohamad, Kamaljit Singh and various other leaders from the banking sector.