Financial Daily from THE HINDU group of publications
Monday, Nov 24, 2003
Financial Daily from THE HINDU group of publications Monday, Nov 24, 2003 |
|
|
|
|
|
Money & Banking
-
Private Banks Bank staff protest higher FDI Our Bureau
KOCHI: The All Indian Bank Employees Association has threatened to launch an all-India strike if the Government goes ahead with its proposed move to hike the foreign direct investment in private banks to 74 per cent. Mr V.J. Johny, General-Secretary of the All Kerala Bank Employees Federation, affiliated to the AIBEA, said in a statement that the Government's move to hand over peoples savings to multi-national groups is highly objectionable. The total deposits in the banking sector was Rs 14 lakh crore and 70 per cent of this came from the domestic segment comprising agriculturists, pensioners and housewives. Foreign owners will be interested only in profits and not in the development of the country. Moreover, the banks under foreign ownership will close down rural branches in the name of non-viability, he said.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|