Business

AIBEA asks FM to appoint staff representatives on PSB boards

‘Posts lying vacant in all govt. banks for last 5 years’

The All India Bank Employees Association (AIBEA) has urged the Union Finance Minister to expedite the appointment of employee representatives on the boards of all public sector banks, based on the revised list of names submitted by them.

“The posts of these employee and officer representative directors have been vacant in all the public sector banks for the past five years,” said C.H. Venkatachalam, general secretary, AIBEA.

“The list of names have been submitted to the bank managements and the government. But, for reasons not known to us, the appointments have not taken place and all these posts remain vacant and unfilled,” he said.

He said since some of the employees, whose names had figured in the original list, had since retired, the association had submitted a revised list.

“Even after the revised list was submitted, the appointments had not been made. This had created a strong feeling in the minds of bank employees that the government did not want employee representatives on the bank boards. You will kindly appreciate that it is necessary to dispel such apprehensions and perceptions by expediting the appointments,” he wrote in a letter to the Finance Minister.

Mr. Venkatachalam mentioned that under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, it is necessary to appoint a representative of trade union of workmen employee and a representative of officers as directors on the boards of all public sector banks.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Apr 6, 2020 7:03:13 PM | https://www.thehindu.com/business/aibea-asks-fm-to-appoint-staff-representatives-on-psb-boards/article29714210.ece

Next Story