Stop resorting to strikes, Chidambaram tells bank unions

Our Bureau
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P. Chidambaram
P. Chidambaram

Finance Minister P. Chidambaram on Thursday asked bank unions to desist from resorting to protest strikes, stating that such actions were not desirable in an important industry such as banking.

The Finance Minister’s advice came on a day when over five lakh bank employees and officers went on protest strike, paralysing banking operations in many parts of the country.

However, about three lakh employees of the SBI Group did not participate in the strike, it was learnt.

While the All India Bank Employees Association (AIBEA) claimed that the strike action was a “total success”, Chidambaram sought to play down its impact. He pointed out that banks were open during working hours and 46 per cent of employees reported to work.

It is only in the North East and Eastern India — which are economically deprived — where banking operations were affected, he said.

There is no longer any great public sympathy for such strikes, Chidambaram told Rajya Sabha in his reply to the discussions on Banking Laws (amendment) Bill 2011. “I think any matter can be talked out. We are open to talks”, he added.

Meanwhile, AIBEA General Secretary C.H.Venkatachalam said the strike was called to protest against the Government’s attempts to rush the banking law amendments.

Interestingly, Parliament on Thursday evening gave its nod for the Banking Laws (amendment) Bill, with the Rajya Sabha approving the Bill passed by the Lok Sabha.

Our Mumbai Bureau adds: According to a central bank official, 19 banks did not participate in the national cheque clearing process due to the strike. As against the daily average cheque volume of 7.5 lakh, only 2.61 lakh cheques came up for clearing.

(This article was published on December 20, 2012)
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Staff unions /Officers associations should visualize the performance, result of Public sector Banks.Private Banks are performing very well,then why not public sector Banks? even though more Branches, wide exposure?
If union/ association have interest in their institutions, they should have raised voice when provision of bad loans was manually calculated, when frauds increased that too with the help & involvement of internal staff /officer.When loans became bad due to no pre inspection ,

The duty of the staff union /association is to protect interest of workmen /officer,there should be no injustice, & union/association should not interfere in matters which are outside their jurisdiction.
Public/Depositors are against the union/association since for their self interest, call for a strikes are being given.
It was most unfortunate that ,inspite position of public sector Banks are not satisfactory, call for a strike was given,it condemned

Posted on: Dec 21, 2012 at 10:31 IST

If unions would not have ressisted new banking policy by this time Indian banking would have fall in line with US & UK Unions have played heroic role in preserving savings of the comman masses. Global Trust Bank, Times Bank, United Western Bank, Sangali Bank today no more exist. Despite empirical evidence on home pitch as also golbe government has passed those amendments so as to compell RBI to give licances to big corporates ssuch as Reliance, India Bull, Tata, Birla etc. who with capital of 1,000 cr will mobilise savings to the tune of lkhs of croers and will deploy it to subserve their own interests and one fine morning will declare to be insolvent which today US is experiencing. Noe atleast try to understand ground realities.

from:  devidas tuljapurkar
Posted on: Dec 21, 2012 at 14:07 IST
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Rajalakshmi Nirmal and Radhika Merwin of the BL Research Bureau discuss the role of asset reconstruction companies (ARCs) in the banking sector and how they deal with bad loans.


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