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Credit facility sought for villagers

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Listing demands: President of the Tamil Nadu Bank Employees’ Federation N. Sampath addressing a conference in Puducherry on Saturday. General Secretary of AIBEA C. H Venkatachalam (second from right) is in the picture. —
Listing demands: President of the Tamil Nadu Bank Employees’ Federation N. Sampath addressing a conference in Puducherry on Saturday. General Secretary of AIBEA C. H Venkatachalam (second from right) is in the picture. —

Staff Reporter

PUDUCHERRY: The All India Bank Employees Association (AIBEA) on Saturday appealed to the Central government to provide credit facility to the general public, especially those living in the rural areas, at 4 per cent interest rate.

General Secretary of AIBEA C.H. Venkatachalam, who was here to attend the sixth conference of Pondicherry Bank Employees Union (PBEU), told reporters that the association was opposed to accepting higher rate of interest.

Demanding better returns for bank customers, he said the household sector was the biggest contributor in terms of deposits in both public and private sector banks and they should be provided higher interest rates than the present rate of 3.5 per cent.

Stating that the association was against the policy of transferring Non-Performing Assets (NPA’s) to the Assets Reconstruction Company, he said the NPA’s were sold at a relatively lower price. He also demanded action against wilful defaulters.

Urging the government to take corrective steps to bring down inflation, he said the increase in the price of essential commodities had made life miserable for the poor and salaried class.

Demanding an immediate ban on trading, he said steps should be taken to supply essential commodities at an affordable price.

Flaying the government’s proposed plan to merge four major public sector banks to face global competition, he said such a move would only lead to lesser facilities for customers. Mr. Venkatachalam said the government should take steps such as providing more credit facility for farmers, self employment and loans for unemployed youth at deferential rate of interest.

The AIBEA and the All India Bank Officers’ Association would hold a series of agitations to highlight their demands before the protest on August 20, he said.

President of Tamil Nadu Bank Employees’ Federation N. Sampath also spoke.


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