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    Published On : Thu, May 22nd, 2014

    No bank strike on May 23, clarifies EMBEA

    Nagpur News.

    The Eastern Maharashtra Bank Employees’ Association (EMBEA) has categorically stated that there is absolutely no call for bank strike on May 23. “The reports in a section of print and electronic media about bank strike are baseless and misleading,” said EMBEA.
    The EMBEA General Secretary B N J Sharma, in a press release, clarified that there is no strike call given any constituent unions of UFBU and the banks will function as usual on that day. “Units and members are aware that the RBI appoint P J Nayak Committee has recently submitted its report with various recommendations like privatization of banks, reducing Government’s capital in PSBs to less than 50 percent, merger of public sector banks, transferring the ownership of public sector banks to an investment company, repeal of Bank Nationalization Act, voting rights of shareholders in public sector banks to be increased from 10 percent to 26 percent, etc. In short, the Committee wants removal of Government’s control and to hand over the banks to private hands. They want to go back to pre-1969 model of private sector banking,” asserted Sharma.
    “At present, the main challenge before the banks is the ever increasing bad loans. Bulk of these bad loans is from private corporate houses, business enterprises and industrial houses. It is not wise to hand over the banks to the very same private sector responsible for the huge bad loans in the banks,” the General Secretary of EMBEA said.
    Sharma further said that five major unions, All India Bank Employees’ Association (AIBEA), All India Bank Officers’ Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF) and Indian National Bank Officers Congress (INBOC) have given a call to all units and members to organize and hold countrywide demonstrations after office hours on May 23, 2014 to express strong protest and objection to the Nayak Committee recommendations and to demand rejection of the report.
    Subsequently, in Nagpur, massive demonstrations will be held on May 23 at 5.30 pm at Samvidhan Chowk (RBI Square). EMBEA has appealed all officers and employees to attend the protest demonstrations in large numbers against P J Nayak Committee recommendations to privatize public sector banks, said the press release.

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