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Implement loan waiver properly, bankmen urged

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APBEF president K Narahari addressing the district coordination committee meeting held at Ongole on Sunday. —
APBEF president K Narahari addressing the district coordination committee meeting held at Ongole on Sunday. —

Special Correspondent

APBEF opposes proposal for outsourcing in public sector banks

Bank employees urged to fight unitedly to achieve pension scheme

Federation also opposes plan to merge public sector banks

ONGOLE: Andhra Pradesh Bank Employees Federation (APBEF) general secretary B S Rambabu has exhorted the bank officials to welcome loan waiver scheme, check unscrupulous persons from exploiting it and ensure that the benefits reached only farmers.

Addressing the APBEF district coordination committee meeting here on Sunday, Mr. Rambabu said the Central Government could declare loan waiver scheme to benefit farmers only because the banks are in public sector. He pointed out that private banks have no role in it.

It devolves on public sector banks to implement the scheme properly and render full benefit to farmers. He pointed out that some banks had sanctioned gold loans for non agricultural purposes and showed them as agricultural loans in a bid to reduce rate of interest.

Such loans should not be waived under the scheme, he asserted.

He called upon the bank employees to fight unitedly to achieve pension as third benefit and oppose attempts of Reserve Bank of India to introduce outsourcing in public sector banks to render them jobless. He said all political parties from Congress to BJP and TDP welcomed privatisation of public sector banks. So bank employees should be vigilant and thwart their attempts to increase private equity from 49 to 76 per cent in public sector banks.

He also opposed the attempts of Finance Minister P. Chidambaram, to merge public sector banks to reduce their number from the present 27 to four or five banks so that they become strong enough to play their role in international market. Saying that banks have no recovery mechanism abroad, he said such merger would make public sector banks meet the same fate as Global Trust Bank.

Wage revision

Mr Rambabu criticised the State government for denying wage revision to cooperative bank employees for the last 17 years. He assured cooperative bank employees of solidarity from public sector banks to help them get wage revision soon. APBEF working president K Narahari presided. CPI leader Nalluri Venkateswarlu was the chief guest.


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