The indifferent response of the Government to the strike called by the United Forum of Bank Unions in the country is deplorable. There was not even an iota of effort by the Government to engage the bank unions. Even a ritualistic appeal by the government was not made this time.
The Government is making systematic attempts at privatising public sector banks. The bank employees are not fighting for extended holidays or increase in wages.
The bank unions are opposing the Khandelwal committee report that seeks to privatise the banking sector through its draconian recommendations. The need of the hour is for engagement with all major trade unions so that issues can be amicably resolveda. Will the government pay heed?
J. Anantha Padmanabhan
Inert on inflation
The RBI’s minutes of the Technical Advisory Committee on Monetary Policy contain interesting revelations. The members of the committee felt that the current situation in India was by far the most difficult in recent years.
Also, given the fiscal deficit, double-digit consumer price inflation and lack of credible action from the Government, the RBI needs to focus on tempering inflationary expectations.