Money & Banking

Expedite employee representative appointment in public sector bank boards: AIBEA to FM

K.R.Srivats | Updated on October 15, 2019 Published on October 15, 2019

C.H. Venkatachalam, General Secretary, AIBEA

 

 

The All India Bank Employees’ Association (AIBEA), the largest trade union of workmen employees in the banking sector, has urged the Finance Minister Nirmala Sitharaman to expedite the appointments of employee representative directors in Public Sector Banks Boards.

The posts of employee and officer representative directors have been vacant in all the banks for the past five years and the appointments have to be expedited to dispel the apprehension among bank employees that Government is avoiding to have the employee representative on the Board, C.H. Venkatachalam, General Secretary, AIBEA said in a letter to the Finance Minister.

Under the Banking Companies ( Acquisition and Transfer of Undertakings ) Act 1970/1980, a representative of the trade union of workmen employee and a representative of officers are appointed as Directors on the Boards of all Public Sector Banks.

Venkatachalam said that the panel of names have been submitted to the bank managements and Government, but for reasons not known to AIBEA, the appointments have not taken place and all these posts remain vacant and unfilled.

“Some of the employees whose names were submitted in the panel had since retired, and hence we have submitted revised panel also. Even after that, the appointments are kept pending”, Venkatachalam said.

Srivats.kr@thehindu.co.in

Published on October 15, 2019
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