AIBEA Office Bearers meeting decides agitational programme on Banking Reforms, NPA, IDBI Bank privatization, Mallya issue etc. 28th March: strike in IDBI Bank and support demonstration by all AIBEA units; 15th April : All India Day and Badge wearing; 25th Apr : GC meeting in delhi; 26th Apr. : All India dharna before Parliament; 11th May: State level mass rally in all capitals; : 25th May : All India strike. Get ready detailed circular follows. CHV AIBEA.
Bank unions call for nation-wide strike on July 29-The Hindu
dkj
The United Forum of Bank Unions, a representative body of nine Bank unions, has called for day long all-India Bank strike on July 29.
The strike is to register the unions' protest against banking reforms being contemplated by the Central Government, All India Bank Employees Association General Secretary C. H. Venkatachalam said in a statement.
The UFBU has decided to express its protest by going on strike as the Government proposes to go ahead with banking reforms such as consolidation and merger of banks, sanction of more licences to private companies and privatisation of IDBI, the statement added.
No serious action is being taken by the Government and RBI to recover the huge bad loans in the banking system.
There are more than 7,000 deliberate and willful defaulters who owe Rs 60,000 crore to the banks.
"Even their names are not being published. We want criminal action to be taken on these wilful defaulters", Venkatachalam added.
Bank employees union calls for nationwide strike on August 29-Indian Express- 12th May 2016
An umbrella body of bank unions has called for a nationwide strike on August 29 to protest against the government's banking reforms.
- See more at: http://indianexpress.com/article/business/banking-and-finance/bankers-to-strike-against-government-policies-inaction-2796745/#sthash.wh9KC5uG.dpuf
My Views are expressed in following link
dkj
The consolidation exercise could bring down the number of public sector banks to about six from the current 27, but it cannot change the attitude, culture and mindset of politicians and bankers who have jointly and severally looted banks for serving their self interest and mutual interest.
Issues such as mergers of weak banks, chalking out a career path for the chairmen of the merged banks, cultural fitment of lenders will also have to be dealt with. Career of various employees of banks will be adversely affected. Promotion scope for employes will be reduced. Many branches will have to closed or merged .Government will face a tough task in closing of many branches of merged entity which will appear superfluous. Government will fail to unify different culture of different weak banks which will merge together to make a bigger entity.
It is therefore true as many of analysts feel, even though the government seemed confident of the merger exercise, it will not only prove be a hard nut to crack, it will also prove to be suicidal attempt. Government failed to do it during last three decades, and it will fail this time too.
If government is really interested to save banks from further damage, it should merge all PSU banks and convert it into a unified Financial Corporation or a Unified Public Sector Bank .
In this way , government of india can decide priority of the country , define rate of interest payable on deposits and rate of Interest for various sector of lending depending upon priorities decided by it.
This will not only help in elimination of competition among 29 PSU banks ( which are all part of same government and same owner ) and force the unified bank to compete with private sector bank but also help Government in execution of it social welfare plan in true spirit.
Merger and Consolidation is Not A Permanent Solution
Following are My Views On Swamy's Suggestion for removal of Mr. Rajan , RBI Governor
BJP Leaders Mr. Subramanium Swami says , “In my opinion, RBI Governor is not appropriate for the country. I don’t want to speak much about him. He has hiked interest rates in the garb of controlling inflation that has damaged the country,”
He further says ,“The sooner he is sent back to Chicago, the better it would be.”
Action of Subramanium Swami criticising RBI Governor Mr. Raghuram Rajan is not at all good and need to be condemned by all. He should not use such derogatory word for a person who not only holds prestigious post of the country but also has earned name and fame in world economic forums. Rajan is undoubtedly a talented and intelligent economist and fittest person for the post of RBI Governor and he deserves to be awarded with second inning. If there is difference of opinion , ministers should sit with , discuss and resolve the issue in larger interst of the country . Politicians have to move above politics and take care of economics of the country .
Public Statement by politicians against top dignitories of the government or about any official cannot be considered good from any angle of consideration. I hope Prime Minister Mr. Narendra Modi will stop Swami like politicians in interfering in such sensitive matters. Rivalry among executive body , leaders of political parties and judiciary will prove deterimental to the country. Politicisation of executive post is not good for the health of the government and it undoubtdly adversely affects quality of governanceand it leads to culture of flattery and bribery only.
There is no doubt that only officers who are apt in flattery and bribery will tolerate such humiliating statements as made by Mr. Swami. An officer with dignity will not like to remain in post such as RBI Governor if bad words are used against him. Country will suffer if politiicans make mockery of officers and their image for political gain.
Country will grow only when officers are honest and devoted to their duty and when such officers get due respect and recognition..
I have no hesitation in saying that UPA government lost trust of people of India only because it promoted culture of flattery and bribery in politics, in administration and in judiciary too . Officers who were ready to become yesman of leaders of Congress Party got awarded during UPA regime at the cost of officers who used to serve devotedly and who were loyal to their post .Country had to suffer huge losses in various scam only due to bad culture promoted by Congress Party during their six decade rule.
I hope Mr. Modi will take proper care and will not allow their Ministers and party men to make unwarranted statement against any official which demoralises entire service class people. Let executive and judiciary work independently and without fear of repercussion from the side of ruling party until they breach violate laws and breach limits of tolerance in a civic society. Politicians must be subjected to certain norms of discipline as officials are supposed to follow.
Rajan unfit to be RBI Governor: Swamy-The Hindu-12 th May 2016
BJP leader Subramanian Swamy on Thursday suggested that Reserve Bank Governor Raghuram Rajan be removed from the post as he was responsible for “unemployment and collapse” of industrial activity.
Following are My Views On Swamy's Suggestion for removal of Mr. Rajan , RBI Governor
BJP Leaders Mr. Subramanium Swami says , “In my opinion, RBI Governor is not appropriate for the country. I don’t want to speak much about him. He has hiked interest rates in the garb of controlling inflation that has damaged the country,”
He further says ,“The sooner he is sent back to Chicago, the better it would be.”
Mr. Rajan is the on-leave Professor of Finance at the University of Chicago’s Booth School of Business.
Action of Subramanium Swami criticising RBI Governor Mr. Raghuram Rajan is not at all good and need to be condemned by all. He should not use such derogatory word for a person who not only holds prestigious post of the country but also has earned name and fame in world economic forums. Rajan is undoubtedly a talented and intelligent economist and fittest person for the post of RBI Governor and he deserves to be awarded with second inning. If there is difference of opinion , ministers should sit with , discuss and resolve the issue in larger interst of the country . Politicians have to move above politics and take care of economics of the country .
Public Statement by politicians against top dignitories of the government or about any official cannot be considered good from any angle of consideration. I hope Prime Minister Mr. Narendra Modi will stop Swami like politicians in interfering in such sensitive matters. Rivalry among executive body , leaders of political parties and judiciary will prove deterimental to the country. Politicisation of executive post is not good for the health of the government and it undoubtdly adversely affects quality of governanceand it leads to culture of flattery and bribery only.
There is no doubt that only officers who are apt in flattery and bribery will tolerate such humiliating statements as made by Mr. Swami. An officer with dignity will not like to remain in post such as RBI Governor if bad words are used against him. Country will suffer if politiicans make mockery of officers and their image for political gain.
Country will grow only when officers are honest and devoted to their duty and when such officers get due respect and recognition..
I have no hesitation in saying that UPA government lost trust of people of India only because it promoted culture of flattery and bribery in politics, in administration and in judiciary too . Officers who were ready to become yesman of leaders of Congress Party got awarded during UPA regime at the cost of officers who used to serve devotedly and who were loyal to their post .Country had to suffer huge losses in various scam only due to bad culture promoted by Congress Party during their six decade rule.
I hope Mr. Modi will take proper care and will not allow their Ministers and party men to make unwarranted statement against any official which demoralises entire service class people. Let executive and judiciary work independently and without fear of repercussion from the side of ruling party until they breach violate laws and breach limits of tolerance in a civic society. Politicians must be subjected to certain norms of discipline as officials are supposed to follow.
Rajan unfit to be RBI Governor: Swamy-The Hindu-12 th May 2016
BJP leader Subramanian Swamy on Thursday suggested that Reserve Bank Governor Raghuram Rajan be removed from the post as he was responsible for “unemployment and collapse” of industrial activity.
“In my opinion, RBI Governor is not appropriate for the country. I don’t want to speak much about him. He has hiked interest rates in the garb of controlling inflation that has damaged the country,” he told reporters in Parliament House.
The Governor’s actions have “led to collapse of industry and rise of unemployment in the economy”, he said. “The sooner he is sent back to Chicago, the better it would be.”
Mr. Rajan is the on-leave Professor of Finance at the University of Chicago’s Booth School of Business.
After assuming charge as RBI governor in September 2013, Mr. Rajan gradually raised the short-term lending rate from 7.25 per cent to 8 per cent and had retained the high rates throughout 2014.
He kept the rates high, citing inflationary concerns despite intense pressure from the Finance Ministry and the industry for softening them with a view to boosting growth.
The Governor began the process of lowering the rates in January 2015 and since then it has come down by 1.50 per cent to 6.50 per cent
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