The Hindu Business Line : Bank unions to protest outsourcing

The General Secretary of the All-India Bank Employees Association, Mr C.H. Venkatachalam, has in a statement said the proposed agitation would mark their protest against the Government's increasing attempts to outsource banking operations.

Currently, cheques issued by the customers on various banks are being cleared at 1,100 clearing houses. The work is conducted by the RBI, State Bank of India and other commercial banks.

`The RBI has decided to hand over this operation to a proposed private limited company — National Payment Corporation of India.

`When banks maintain secrecy of customer account details, handing over such operation to an outside agency is undesirable. We also understand that the assets of the clearing houses (now owned by the RBI and SBI) would be handed over to this company at book value,' he explained.

Attempts were on to shift normal banking activities such as opening of an account, cash payment, withdrawal of cash remittance, loan sanctions to small borrowers etc. to private corporate agencies on commission basis, he said.

The unions apprehend that about 70 per cent would become jobless if such operations were outsourced.

Condemning the anti-people and anti-employee stance of the Government, the unions have decided to take out a rally in Delhi during the next Parliament session in May.

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