Dated this day of 11th July 2016
Indian Banks’ Association,
World Trade Centre,
In accordance with the provisions contained in sub-section (1) of Section 22 of the I.D. Act – 1947, we hereby give you notice that the members of all the constituent unions of United Forum of Bank Unions (AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO) propose to go on strike on the 29th July 2016 opposing the reform initiatives of the Government, which are aimed at wiping out the Public Sector Banking System in the Country.
♦ *TO STOP BANKING REFORMS*
The details of the programme and the Statement of the case are furnished herein.
Encl. : 1. Details of Agitational Programme
2. Statement of the Case
1. Chief Labour Commissioner (Central), New Delhi
2. CMDs/MDs/CEOs of All Banks
3. Copy to All Constituent Units of UFBU
2) STATEMENT OF THE CASE :
The banking industry in India witnessed sea-change through nationalization of banks in the years 1969 and 1980 with the sole aim of promoting small savings for self-sufficiency and for utilizing the banks as catalytic agents for economic growth. There is not an iota of doubt that the nationalized banks served the poorest of the poor in the country through implementation of several schemes of the Government with a social objective.
Aiming economic growth, several committees constituted by the Government suggested various measures toward reforming the financial and other economic sectors in the Country including certain recommendations, which are derogatory to the entire public sector character prevalent in the country. The implementation of those anti-public recommendations of the various committees is stoutly opposed by the Trade Unions in the banking industry since 1992.
However, the various policy decisions of the Government of India in the banking sector in the name of financial reforms, amendments to labour laws tailored to suit the needs of private and foreign players, the ongoing IR problems in IDBI Bank, the voluminous bad loans in the Banks and unwarranted concessions that are being given to defaulters, discrimination in capitalization resulting in further weakening of already weak banks depict the intention of the Government to wipe out the public sector banking system in the country to enable the private and foreign players to take over the entire banking industry under their folds.
Our country needs a very effective regulated banking system and the attempts of the Government to deregulate the entire banking system in the name of reforms is detrimental to the interests of the general public and the country on the whole. Hence, there is an imperative need to save Public Sector Banks.
Further, the move of the Government to amend the labour laws to suit the needs of the private and foreign players would affect the entire labour class in the country, which is strongly opposed by all the trade unions in the country including the Central Trade Unions.
Hence, UFBU strongly oppose the anti-public, ill-fated reform measures of the Government in the banking industry and the anti-labour amendments to the Labour Laws in the country.