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Bank employees to protest against harassment on March 21

Friday March 9, 2018 6:37 PM, Agencies

Bank Strike

Hyderabad: The United Forum of Bank Employees Unions (UFBU) on Friday said the bank employees will protest at Jantar Mantar in New Delhi on March 21 demanding action on all those involved, connected and responsible for the Punjab National Bank (PNB) Scam worth thousands of crore rupees.

Besides action against loan defaulters, the United Forum of Bank Employees Unions (UFBU), an umbrella organization of nine top bank employees' unions, also demanded stopping harassment of bank staff after the recent PNB scam.

"Following the recent fraud in Punjab National Bank (PNB), an orchestrated propaganda is being unleashed against all the bank employees, and the functioning of Public Sector Banks (PSBs) is being projected in poor light," VVSR Sarma, convener of the UFBU AP and Telangana State Units, told reporters in Hyderabad.

He also alleged that suggestions towards privatisation of Public Sector Banks (PSBs) are being made in some quarters without acknowledging the pivotal role played by the PSU banks in the country's growth since banks' nationalisation in 1969, according to PTI.

"It is also a known fact that those corporate and industrial houses which are responsible for the huge bad debts in PSBs are freely suggesting privatisation of PSBs," he said.

The bank unions had two days ago sent a notice to the employees which said, "People's money for people's welfare, not for private corporate loot", and demanded that low-level staff should not be made scapegoats and sought a joint parliamentary committee probe into the PNB scam amounting 12,600 crore rupees.

“We have written to the Finance Minister, too, to ensure junior employees are not being made the scapegoat as if they alone are responsible for the fraud. They must bring back Nirav Modi and Mehul Chokshi to India and take criminal action against them," CH Venkatchalam, General Secretary of the All-India Bank Employees Association (AIBEA) had earlier said..

He added that this incident is also being used unfairly to paint all Public Sector Banks (PSBs) in a bad light and has suggested a meeting of all stakeholders to reinstate the trust and confidence of the common public in general and banking clientele in particular.

Seven employees of PNB have been arrested so far as part of the CBI’s investigation into unauthorised loans allegedly secured by Nirav Modi’s and his uncle Mehul Choksi’s firms on the basis of fraudulent letters of undertaking issued by bank staffers. Among them are a retired deputy manager, a single window operator and an auditor.

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