CENTRE aiming to implement banking sector reforms at dictates of IMF, WB and corporate sector: AIBEA


A Speaker addressing the 13th Conference of Indian Bank Employees Union (Punjab) at Government College for Boys, Ludhiana on Sunday.

City Air News photo; Mandeep Kumar Verma

Ludhiana, June 9, 2013: The 13th Conference of Indian   Bank Employees Union (Punjab) has been held at Government College for Boys, Ludhiana on Sunday.

R.K. Gulati, President, IBEU (Punjab) presided over the conference.

Naresh Gaur, Chairman, Reception Committee welcomed all the distinguished guests C.H. Venkatachalam, General Secretary, AIBEA, E. Arunachalam, Treasurer AIBEA and S.K.Gautam, Joint Secretary, AIBEA.

While inaugurating the conference, C.H. Venkatachalam said that after nationalisation of banks, banking has reached the common masses and gone to the villages to serve needs of neglected sectors which have now become the priority sector. Class Banking has been turned into Mass Banking. AIBEA can feel proud of our struggles in defence and development of public banking  in India. But now the Centre is seriously aiming to implement the banking sector reforms at the dictates of IMF, World Bank and at the pressure of corporate sector. They want to put the clock back. They want to merge and shrink the public sector banks  while simultaneously encouraging the expansion of private sector banks by adopting a policy to grant licenses to private corporate, Industrial and business houses. The services of repressive measures and attacks are mounting against the working class in General and Bank employees in particular. The economic polices are persued by the government are aimed at derailing the economic sovereignty. The capitalist class is making all out efforts to weaken the Trade Union movement and deprive the workers of  their legitimate rights. “The AIBEA moment has to be built up though ideological orientation”, he said, adding this is new challenge before us now.

This conference is being held in the aftermath of massive protest actions by the bank employees of the country by observing two days successful strike under the banner of United Forum of Bank Unions on February 20 and 21  this year and again on May 29 under the banner of AIBEA massive dharna infront of Parliament against outsourcing.

Further, he said in the present scenario, working class of the country in general and bank employees in particular are facing several severe attacks by the Centre at the instance of International Monetary Fund and World Bank under the policies of  globalisation, liberalisation and privatisation. Time and again, serious attempts are being made to privatise the Public Sector Banks and reduce the government equity in the government owned banks.

Further, he said bank employees and officers of the country under the banner of United Forum of Bank Unions have resisted these attempts by various protest actions including successful strike actions. Furious at this successful opposition of bank unions to the efforts of  privatisation, the government is coming out with barbaric attacks in different banks with intention to liquidate the union and exercising repressive measures against the union leadership, he said, adding the matter of serious concern is that the attempts are being made to change the real structure of banking system as desired by foreign and Indian private investors.

In his address, E. Arunachalam, Treasurer, AIBEA said that the various matters of immediate concern are lying pending with IBA and the government and no positive indication is expressed for their solution. The matter of compassionate appointments awaits still favourable decision inspite of various commitments. He added the government is coming ahead with its agenda of outsourcing  of retail banking services and permanent jobs in the banks but no sincere efforts are being made to fill up the permanent vacancies. The government is advocating merger and acquisition of banks and thereby threatening serious danger of our job security and is likely to invite serious hardships for the employees, he added.


Sunday, June 9, 2013