aiboa

ALL INDIA BANK OFFICERS' ASSOCIATION {Regd.)

"A.K.Nayak Bhavan"  No.14, Second Line Beach, Second Floor, Chennai 6001   
Ph. 25265511  Fax: 25249081  Mobile No: 9840645081 
     Email: aiboa.hq@gmail.com 

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aiboa 7th conference

CIRCULAR TO ALL UNITS & MEMBERS     

AIBEA AIBOA

Circular No.1/VII/2018

January 8, 2018

To:

ALL UNITS / STATE COMMITTEES

Comrades,

v SAVE BANKING INDUSTRY

v JOINT SIGNATURE CAMPAIGN

v TARGET – ONE CRORE

 

The present Government at the centre with the focussed approach is targeting the “main nerve centre” of economic activity of our Nation [ie] our Industry, to carry out their plan of actions. Some of them are  -  broadly;

1.    INFUSION OF CAPITAL TO BANKS:

The Government conceded our demand but they are attached the conditions of reforms [ie] consolidation through mergers etc.

2.    RECOVER THE BAD LOANS THROUGH STRINGENT MEASURES:

In order to silence the strong voice of the people at large, an amendment to Banking Regulation Act – “Insolvency and Bankruptcy code” was brought in.  12 top accounts amounting more than Rs.2,52,000 crores is pending before National Company Law Tribunal[NCLT] for adjudication.

Through the NCLT total money will not come back to the Banks but accommodation of the big defaulters would certainly take place.

3.    ACCOMMODATION OF THE BAD LOAND DEFAULTERS AND PENALISE THE COMMON MAN / DEPOSITORS:

The earning to a financial Institution is mainly through lending operations.  When the bad loans are increasing, earnings are declining.  To cover the future loss, the exercise of provisioning is taking place.  Small depositors are to be paid increased rate of interest, to encourage the savings.  But the present position is not favourable to small investors.  In the name of non-maintaining the minimum balance in the accounts, depositors are penalised by levying charges and the income earned through this method is more than the real banking transactions.

4.    BRANCH EXPANSION IS THE NEED OF HOUR NOT BRANCH CLOSURE:

We have proved that the favourite issue of “financial inclusion” has been brilliantly implemented by Bankmen across the country thereby nearly 21 crores of accounts have been added with a total deposit of over Rs.70000 crores.  We need branch expansion to cater the requirements of the common people of this country.  At this point of time, Government is seriously pursuing the issue of mergers of Banks.  5 Associate Banks mergers with SBI had already led to closure of 1000 branches .  Further 200 to 300 branches, SBI is planning to close down.

5.    WITHDRAW FRDI BILL:

Untimely introduction of the bill by the present Government has kick started the flight of Bank deposits to mutual fund.  Leading Bank- SBI- has released an advertisement in social media instigating the small investors to invest in mutual funds instead of savings, through Bank accounts.  The “bail in” clause has created sufficient fear and loss of confidence in Public Sector Banks.

Comrades, our Joint signature campaign has to be actively pursued and hit the target of getting the common people involved in the noble tasks of “Saving the Banking Industry” thereby “saving the Nation”.

Plunge into vigorous campaign as the time at our disposal is too short and also precious.

Yours comradely,  

/S.NAGARAJAN/

GENERAL SECRETARY

TWIN ON ONE TASK

SAVE BANKING INDUSTRY

TWIN TASK