AIBEA all set to turn 10 weak banks

Chennai, April 6: The All India Bank Employees Association (Aibea) is gearing up for turning ten weak banks with its suggestions, said a top leader.

C.H. Venkatachalam told IANS, “We are preparing with our viewpoints and suggestions to be made in the discussions with the respective banks.”

“A meeting of the leaders of our unions in these 10 banks will be held in Chennai on April 13 and 14 for this purpose, we shall try our best to give positive suggestions to recover bad loans and to reduce expenses so that banks can bounce back to better health,” Venkatachalam added.

Central government has infused fresh capital of Rs. 8,586 crore into 10 weak banks subject to quarterly milestones by bank boards, management, employees and unions and in return each bank should submit its turnaround plan to SBI Caps which study and then make suggestions, he said.

On Aibea signing the agreement for restructuring with the management, Venkatachalam said: “In the original proposal, government wanted us to sign an MoU (Memorandum of Understanding) empowering SBI Caps and managements of banks to finalise an MoU on turnaround and unions to implement it.”

“After our taking up with government, now, it is agreed the final MoU on turnaround will be discussed with unions before it is finalised. The MoU also includes a new clause that the interests of the employees and officers will be kept in mind while finalising the… document. So we have signed the present MoU,” Venkatachalam said.

“We may have differences with government and management but we have no problem for the betterment of our banks.”

“The public sector banks deal with people’s money and these banks therefore belong to the people and the nation. We are committed for the successful performance of our banks and in their turnaround,” Venkatachalam added.


Wefornews Bureau


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