AIBEA declares war on privatisation of PSBs

PUNE, June 12: The All India Bank Employees Association (AIBEA) has declared that it would defeat `with all strength at its command regardle...

PUNE, June 12: The All India Bank Employees Association (AIBEA) has declared that it would defeat `with all strength at its command regardless of costs and consequences’ any move by the Centre to privatise the public sector banks according to the recommendations made in the Narasimham Committee.“Any decision to this effect by the government will be met with nationwide strike before July 31,” Tarakeshwar Chakrabarti, General Secretary AIBEA announced at a press conference held after the conclusion of the two-day general council meeting of AIBEA in the city here today.

Chakrabarti said that AIBEA, along with other eight bank employees’ and officers’ unions, will present a memorandum to Finance Minister in New Delhi tomorrow against the Narasimham Committee which has recommended reduction of government ownership of public sector banks (PSBs) to 33 per cent as against the existing provision of not less than 51 per cent.

“The future course of agitation will be decided after the meeting with the Finance Minister tomorrow,” Chakrabarti added.

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The two-day general council meeting of AIBEA passed a resolution condemning the Narasimham Committee’s recommendations for restructuring of the banks including ultimate closure of weak banks as being against the very interest of the banking system, apart from directly attacking jobs and security of employees.

“The meeting is of the considered view that the report doctored at the behest of International Monetary Agencies – International Monetary Fund (IMF), World Bank and World Trade Organisation (WTO) is a document for privatisation and wholesale sell-out of the banking and financial Institutions to the private sector – foreign and domestic’, the strongly worded resolution said while describing the Committee recommendations as anti-national and anti-banking.

The AIBEA also extended its support on the proposed strike by the employees of the private sector banks on June 30 for the implementation of pension settlement.

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