Bank Employees’ Federation of India (BEFI) at its general council meeting held here has demanded that the Centre order a CBI inquiry into the bank NPA accounts and initiate steps to recover the public money from the wilful defaulters.
The nexus between the corporate houses and some top executives of banking industry with the support of ruling parties, the stance of BEFI vindicated by the arrest of Syndicate Bank Chairman and Managing Director S K Jain by CBI and probe into IDBI Bank financing to Kingfisher Airlines even after declaring it as a wilful defaulter.
BEFI general council also demanded immediate measures to expand the banking industry to all the unbanked areas and cater to the financial needs of the people, particularly the small and medium borrowers to achieve real inclusive growth. The government’s recent initiatives to achieve inclusive growth through outsourcing of banking business and allowing corporate houses to establish banks are false and far from truth. The history of Indian Banking proved that private banks and corporate houses only aim to maximize their profits and confine banking business only to urban and metropolitan areas. Further, BEFI demanded the strengthening of Cooperative Banks, Regional Rural Banks, NABARD and RBI to protect the political freedom and economic sovereignty of the nation.
BEFI demanded that the Union Government nationalize all private sector banks and opposed the ‘banking sector reforms’ in the interest of the safety of peoples’ money in banks and also to strengthen the Indian economy. People’s money kept in banks in the form of deposits can be utilized for people’s welfare and nation-building activities if the banks are in the public sector.
BEFI also demanded that Indian Banks Association and the Government to immediately settle and finalize the wage agreement to bank employees and officers which is due since November 2012 with adequate and reasonable increase taking into consideration the ever-increasing work load and also the disparity with employees of comparable sectors. (NSS)