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Our Bureau

New Delhi, July 4

The All India Bank Employees Association (AIBEA) has called for a day's token strike of all banks across the country on August 1 to protest against the proposed outsourcing of banking services by the Government. The RBI has issued a circular permitting banks to outsource all banking services to private agencies on commission and contract basis. Outsourcing will include services such as opening bank accounts, cash withdrawal, issuance of draft and sanction and disbursement of some loans. "There are over one lakh vacancies in various private and public sector banks which should be filled up instead of allowing outsourcing," said Mr Ramanand, Joint Secretary, AIBEA. RBI's decision to allow outsourcing of clearing operations of cheques will erode the confidentiality of transactions of the depositors, he added.

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