Employees of the National Bank for Agriculture and Rural Development (Nabard) staged a sit-in before Parliament against moves to change its structure.
The motive for taking away its developmental finance institution status needs to be clearly appreciated, according to Mr A.K. Padmanabhan, President, CITU.
“This is part of the design to implement the anti-people, anti-farmer and neo-liberal economic policies at the diktats of the foreign finance and capital.”
Mr Padmanabhan said this while addressing the Parliament march and sit-in organised by the All India Nabard Employees’ Association (AINBEA) yesterday.
The Government is destroying the cooperative structure of the country by denying concessionary funds to Nabard, he said.
Vital issues concerning the common man are not being discussed nowadays in Parliament.
The Government has abandoned the concept of welfare state and is now interested only in taking away the rights of the working class.
Mr Padmanabhan called upon the working class to raise their voice against this.
Mr Basudeb Acharya, MP, congratulated of AINBEA for having taken part in the march daring the hostile Delhi summer.
“The protesters have been raising demands not for their own benefits but for protecting the interests of the farmers and the country,” he said.
Only by strengthening Nabard can the problem of inequality between rural and urban India be addressed and inclusive growth achieved.
But the present government at the centre has no concern for farmers and common people, and has been always siding with the rich and the elite.
According to Mr Tapan Sen, MP, there is a deliberate attempt to weaken Nabard and regional rural banks formed exclusively with the aim of extending credit to rural poor. The repositioning exercise being carried out in Nabard will harm the interests of its employees as also those of farmers.
The Nabard management has cancelled recruitment of clerical staff and closed down 15 district development offices as part of its restructuring programme.
The Government is also planning to vest the full control of RRBs with their respective sponsoring commercial banks.
If this happens, the funds mobilised by the RRBs, instead of getting invested in rural areas, will be diverted to urban areas for serving the interests of the corporates.
Given this, Mr Sen called upon employees of Nabard and RRBs to organise a joint struggle to save the rural credit structure.