Financial Daily from THE HINDU group of publications
Wednesday, Dec 01, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 01, 2004 |
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Money & Banking
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Trade & Labour Unions AIBEA to oppose reforms in banking Our Bureau
Hyderabad , Nov 30 THE All-India Bank Employees Association (AIBEA) has resolved to strongly oppose the banking sector reforms currently being initiated by the Government. At the concluding session of its five-day national conference here, AIBEA has resolved to fight against the Government's move towards dilution of its holdings in public sector banks (PSBs), merger of banks, and takeover of Indian private banks by foreign entities, and continued neglect of regional rural banks (RRBs) and co-operative banks. In a press release here, AIBEA said the conference has decided to go in for "intensive and extensive struggles including strike actions" if necessary. AIBEA has demanded the Government for expansion ofPSBs by opening more branches in rural areas, provide adequate credit at cheaper rate for agriculture sector and rural development, recapitalise and restructure co-operative banks, merge RRBs with sponsor banks, stop further dilution of capital in PSBs, not to go in for merger of PSBs, not to allow takeover of private banks by foreign banks and hiking limits of FDI.
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