Capital infusion ‘discriminatory’’

The All-India Bank Employees Association has termed as discriminatory the Centre’s plan to pump in ₹6,990 crore to shore up the capital base of nine select public sector banks. AIBEA General Secretary CH Venkatachalam said the move to infuse funds only to nine banks was discriminatory while all the public sector banks needed more capital to meet Basel-III norms as well as for business expansion. “The government is the mother of all public sector banks and the mother is expected to take care of all her children, particularly the weak children,” Venkatachalam noted in a press release.