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3:11 pm - Tuesday November 24, 5418

Bank strike hits services across state

Bhopal : Employees of all the nationalized banks of Madhya Pradesh remained on strike on Tuesday on a call given by the United Forum of Bank Unions (UFBU). The UFUB-sponsored nationwide strike resulted in near-paralysis of operations in public and rural banks across the state. UFBU Madhya Pradesh Convener VK Sharma said about 10 lakh employees of the public sector banks all over the country observed strike.

“We are against anti-people modifications in the sector, writing off corporate house’s bad loans and enhancement of fees. We desire withdrawal of the Financial Resolution and Deposit Insurance Bill and dissolution of the Banks Board Bureau,” Sharma said.

Employees took out a rally in the state capital and also organised a meeting. Similar reports were received from Indore, Jabalpur and other places. Transactions worth crores of rupees were affected due to the strike all over the state.

The UFBU has said the government is determined to continue the retrograde reform measures ignoring the real menace in the banking industry that is, alarmingly increasing bad loans. Willful defaulters are on also on the rise, the Forum said, adding the country has also witnessed method of evading repayment that is maximum among big and corporate borrowers.

This is affecting the country’s economy. Demanding that the government fix accountability on those responsible for the bad loans, the UFBU said, criminal action should be initiated against wilful defaulters of bank loans and only this can help reduce such irregularities in the banking industry.

Posted in: Bhopal

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