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Nationalised banks threaten to go on indefinite strike

Bank employees of all nationalised banks will go on a country-wide indefinite strike the day the Banking Reforms Bill is introduced in the Parliament, the general secretary of All India Bank Employees' Association, Tarakeswar Chakraborty, said.

Chakraborty, who came to Siliguri, West Bengal to address the open session of the sixth biennial conference of the Central Bank of India Officers' Union, told newsmen that bank employees under the umbrella organisation, United Forum of Bank Unions, would oppose tooth and nail NDA (National Democratic Alliance) government's move to privatise banks.

On November 27, 40,000 bank employees would march to Parliament to protest against the move, he said.

The non-recovery of 'bad loans' to the tune of Rs 1.5 lakh crore (1.5 trillion) was the only problem of nationalised banks and 80 per cent of such loans was given to the corporate sector, Chakraborty said.

He demanded publication of names of loan defaulters first and then start criminal proceedings against them. Their properties and assets should be attached as the loan amount was public money.

He stressed that if the nationalised banks were allowed to be privatised, it would leave an irreparably adverse impact on the economy of the country and rural people would be the worst sufferer. This would once again force the poor people to go to the moneylenders, he said.

The NDA government did not even consider the performance of private banks in the country before taking the move for privatisation, Chakraborty alleged.

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