Mangalore, December 20: South Kanara District Bank Employees' Association organized a stir in the city on Thursday following the protest called for by All India Bank Employees' Association, All India Bank Officers' Association and Bank Employees' Federation of India.
Over 500 employees gathered in front of Canara Bank, Circle Office, Balmatta Road, Mangalore and demonstrated against the anti-employee and anti-people move of the Government and condemned the banking reforms planed by the Indian government in the form of various amendments to the existing Banking Regulation Act.
Com.P.R.Karanth, Joint Secretary of All India Bank Employees' Association, who is also the President of South Kanara District Bank Employees' Association, addressed the gathering highlighting the significance of strike. Com.K.Raghava, Secretary, AIBOA and Com.K.Madhava, Joint Secretary, Karnataka Unit of Bank Employees' Federation, Com.Vincent D'Souza, General Secretary, South Kanara District Bank Employees' Association among others were present.
The protesters said that the amendments made are against the interest of the people of the country while it stands in favour of the corporate giants.
They strongly condemned the government for contemplating for merger of banks, increasing voting rights of the shareholders in the private sector banks from 10 per cent to 26 per cent and from one per cent to 10 per cent in public sector banks.
Changes brought by the amendment to the SARFAESI Act through which the Non-Performing Assets of the Willful Defaulters in the Bank will be converted as Equity of the Willful Defaulters, instead of taking stringent action against the defaulters was also opposed.
They said that the government instead of allowing the banks to confiscate the property of the defaulters, has been now vouching to bring in new system of bailing them out by converting their loans as shares held in Equity by the lending banks.
Across the nation over 5,00,000 employees and officers working in various Nationalised Banks and Private Sector Banks observed one day All India Bank Strike.
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