The 10th national triennial conference of All-India Bank Officers’ Confederation (Aiboc) has demanded that all old-generation private sector banks be nationalised.

The demand was contained in a resolution that reasoned that, just as their public sector counterparts, these banks are actively participating in financing government-sponsored schemes.

The Confederation also observed that privatisation will also help the cause of financial inclusion. Another resolution passed by the conference resolved to forcefully demand that working hours be fixed for officers and five-day-week implemented.

The conference aired its concern over rising prices of essential commodities; corruption in public life; foreign direct investment; foreign capital finding its way into the sector; and free entry of foreign banks. It asked the government to repeal the Banking Law (Amendment) Bill and restore earlier provisions.

Wage revision It also demanded raising of pension for employees and officers and early and respectable revision of wages.

The conference asked State and Central Governments to put in place stringent laws and mechanisms to arrest rise in non-performing assets. Details of defaulting borrowers need to be place on public domain.

AK Padmanabhan, President, CITU, inaugurated the triennial conference. Aiboc General Secretary Harvinder Singh presented the report while President M Harshavardhan presided over.

Around 1,500 delegates representing 40 bank-wise officers’ unions participated.

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