The Hindu Business Line : AIBEA objects to Moody's comment

The All India Bank Employees Association (AIBEA) has taken strong exception to the observations made by Moody's Investors Service (in its new Banking System Outlook) about the labour force in Government-owned banks being `inflexible and inefficient'. Terming it an `unwarranted and deliberately biased' observation, the AIBEA General Secretary, Mr C.H. Venkatachalam, demanded the withdrawal of `insinuating' remarks and questioned Moody's authority to talk about the labour force in public sector banks. `Comparing the Indian banks' performance and efficiency with western banks is irrelevant,' he said. The AIBEA said the banking staff in India always supported the needs and progress of the sector.

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