Bad Loans : Public banks in Nagpur remain shut to support strike

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Nagpur: As the large number of public banks are sitting on the huge pile of bad loans, the branches want to fix the responsibility of top officials in their banks. And to support this demand, all public banks in Nagpur remained shut on Tuesday in response to the bandh call given by United Forum of Bank Unions. As many as 27 public sector banks control 75 per cent of the total business.

Branches of public banks in Nagpur remained either closed or non-operational on Monday.

Services like cash deposits and withdrawal from branches and cheque clearance have been hit hard in the strike.
“The strike has been forced on us because of adamant and insensitive attitude of the bank management and IBA. They even did not bother to talk about providing compensation for the extra hours put in by bank staff during the demonetisation period,” All India Bank Employees’ Association general secretary C H Venkatachalam said.

The UFBU is an umbrella body of 9 unions, but two Bharatiya Mazdoor Sangh affiliates — the National Organisation of Bank Workers and the National Organisation of Bank Officers — are not part of the stir.

Unions are also opposed to the proposed labour reforms of the government and outsourcing of permanent jobs in the banking sector.

Some of the demands include compensation of employees and officers for extra hours they put in following demonetisation in November and early initiation of next wage revision.

They have also demanded adequate recruitment in all cadres, stringent measures to recover bad loans and accountability of top executives.

Besides, they have pitched for criminal action against wilful defaulters.

The UFBU, which claims a membership of nearly 10 lakh across banks, also requested the government for cost reimbursement of demonetisation to banks.