National wide strike against privatisation of banks

By A Staff Reporter

IMPHAL | Aug 22

The United Forum of Bank Unions (UFBU) today imposed a nation width strike for all the banks across the country as protest against against privatisation of banks and writing off of corporate Non-performing Assets (unpaid loan).

As a part of the strike UFBU, Manipur state committee staged a sit-in protest today in front of State Bank of India, M.G. Avenue.

Speaking to media persons, UFBU, Manipur state co-convenor, Soibam Indrakumar said that in the last 27 years, hard earned peoples savings have been exposed to unscrupulous loot by big corporate houses and has created an astronomical figure of Rs. 15,00,000 crores of unpaid loan.

He added instead of stringent measures for recovery of the bad loan, the government is planning to privatise banks and propose the merge of weak banks with stronger one to enable them make bigger banks which can finance bigger loans.

Pivatisation of banks will not be able to give priority for the poor and it will only give benefits to the rich and big corporate houses, said the co-convenor.

Indrakumar said that the strike is not for the bank employee but it is for the welfare of the whole public.

The top management of the bank should be held accountable for the mounting bad loans in banks, he added.

UFBU Manipur state appealed to the government to not privatise banks thinking for the welfare of the general public.