The All India Bank Employees Association (AIBEA) has voiced regret over the RBI’s decision to clamp down on lending activity by Dena Bank, and appealed for an immediate review of the order.
“The virtual embargo on any lending in Dena Bank has created undue panic among its stakeholders, particularly the bank’s customers and workforce,” said CH Venkatachalam, General Secretary, AIBEA.
Urging the RBI to re-examine and rescind this embargo, the AIBEA, in a communication to RBI Governor Urjit Patel, said that the decision to clamp down on lending activity “may not end up as a corrective measure, but rather complicate the problems faced by banks”.