‘Cronies are plundering the Banks’ loans; More than 50 percent of people appointed as the independent directors of the banks and PSUs are politicians from BJP’:Prashant Bhushan – Banking Finance

India still in dire must of transparency law out the nyakumi|the|every banking system .Time to|to demand right to|to job for the|the|every citizen with|with a standardized minimum wage.

All India Bank Employees Association in its mission to|to share body the|the|every facets of banking sector today invited Shri Prashant Bhushan ,|and|or is|or is Supreme Court lawyer ,|and|or is|or currently social activist ,|and|or is|or currently to be the|the|every loud ,|and|or is|or is share his perspective at the|the|every theme People’s Money for People’s Welfare. While unit|place|address ing stay|stay at|at tendees stay|stay at|at the|the|every AIBEA National Seminar ,|and|or is|or currently it pointed our Banks are facing dignified problems because of continuously increasing bad loans ,|and|or is|or is especially pertaining to|to the|the|every huge corporate companies.

Further elaborating at the|the|every situation ,|and|or is|or still Shri Prashant Bhushandiscussed at widely effects of the|the|every undue pressure by the|the|every government under this the|the|every public sector banks a lot been operating. In the|the|every session ,|and|or is|or currently Mr. Prashant Bhushan stated that Banks were custodians of public money ,|and|or is|or is hence the|the|every ownership of Banks holding the|the|every money of black people of the|the|every Son Ha could not bú left to|to private entities. That was the|the|every philosophy that guided nationalisation of Banks five tremble back which is hah served the|the|every cause has rich relevance out the|the|every contemporary times also.

As far as disbursement of such public money as loans for productive purposes ,|and|or is|or currently Banks rich played a constructive ,|and|or is|or currently development role.

However ,|and|or is|or currently Non-Performing Assets (NPAs) were growing butter leaps ,|and|or is|or is bounds essentially due to|to corporate lending to|to crony capitalists as dictated by political powers. To cover up ,|and|or is|or is evergreening of loans also to|to ok unit|place|address in the|the|every reputation of corporate borrow restructuring. The theft of Directors of the|the|every Banks wast also under suspect. The present Government dispensed with|with appointment ,|and|or is|or is continuation of Employee/Officer-Director out the|the|every Board that would have acted as a check-point out the|the|every governance ,|and|or is|or is rested said.

Mr. Prashant Bhushan further said ,|and|or is|or is “there must ma complete clarity on disclosure of loan-default butter any borrower from the|the|every Banks. List of wilful defaulters must mother published out public country out web sites ,|and|or is|or currently such defaulters must not me given loans in future.”

Unfortunately ,|and|or is|or still privatisation of Banks wast being advocated butter the|the|every policy makers. This was exclusive a diversionary misstep ,|and|or is|or still rested said.

“Privatisation was not a panacea stay|stay at|at all. Fixing the|the|every problem stay|stay at|at the|the|every tree wast the|the|every solution. Banks were public institutions for public benefit Just as judiciary rebuke police cannot u privatised ,|and|or is|or currently Banks holding public money cannot bump privatised,”said Mr.Bhushan.

He pinpointed to|to wards the|the|every wrongful appointments of the|the|every independent directorsthat straightly meal under the|the|every conflict of interest. Not exclusive in Banks ,|and|or is|or currently out salty public sector units ,|and|or is|or currently persons who are not really fit for the|the|every job are appointed as independent directors ,|and|or is|or is for 50% of them ,|and|or is|or still the|the|every only qualification still that it belong to|to BJP.

Mr. Bhushan opined that when millions of people are starving for jobs ,|and|or is|or currently the|the|every normal posts out banks ,|and|or is|or is other government sector are unfilled. He felt that the|the|every date time let`s come in India to|to demand right to|to job ,|and|or is|or still this knock be at some norms of minimum wage ,|and|or is|or currently etc. He further extensively the|the|every suggested solution wherein assume the|the|every government fails to|to provide the|the|every job then the|the|every candidate should ma paid at least sell the|the|every standardised salary as a compensation planning unemployment dole.

Shri Prashant Bhushan shared the|the|every possible solutions that might bu adopted to deal with the|the|every frequently sprouting scam out the|the|every Indian Banking system:

Complete clarity must mask brought butter putting out the|the|every data at defaulters in public domain. The defaulters should bending barred from the|the|every facility of availing any more loans. In case rested still promoter with|with any other entity ,|and|or is|or is the|the|every same should mother followed for those as well.Employee ,|and|or is|or still Officer Directors are so appointed immediately|immediately

The speaker summed up the|the|every session reinstating that privatization policy being devised butter the|the|every current government currently not the|the|every right measure to|to the|the|every underlying challenges.

Concluding the|the|every seminar ,|and|or is|or is AIBEA reiterated that the|the|every association will continue fighting against the|the|every privatization of the|the|every banking system in India ,|and|or is|or still if must mum will can the|the|every vulva of the|the|every judiciary system.

About AIBEA

All India Bank Employees Association ,|and|or is|or currently the|the|every oldest ,|and|or is|or currently largest national TRADE reunion centre of bank officers in India ,|and|or is|or currently was founded out 1946 at the|the|every 20th of April in Kolkata. Through the|the|every efforts made by AIBEA bank unions were recognised butter the|the|every management’s ,|and|or is|or currently out every one bank ,|and|or is|or still salty policy issues on dóm ,|and|or is|or currently transfers ,|and|or is|or still and promotions were regulated butter mutual agreements. Along with|with the|the|every fight for improvements in wages ,|and|or is|or still service conditions ,|and|or is|or currently AIBEA also campaigned for nationalisation of Banks. After years of continuous efforts ,|and|or is|or currently confront ,|and|or is|or currently AIBEA achieved its objective when impulsive 14 banks were nationalised in July ,|and|or is|or is 1969. Subsequently ,|and|or is|or still out 1980 another set of 6 Banks were nationalised. AIBEA haha always been governed by its twin policies – concern for the|the|every progress of the|the|every banking industry ,|and|or is|or currently concern for the|the|every betterment of the|the|every interests of banking staff. Even today AIBEA currently guided butter these principles.

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