Strengthening the movement against arbitrary bank charges, United Forum of Bank Unions (UFBU), the umbrella organisation of five employee unions and four officer unions of state-run banks in the country, have decided to support hands with several consumer organisations, consumer activists and lakhs of bank customers.
Confirming the decision, CH Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA) and Subhash Sawant from Central Bank Employees Union (CBEU) told Moneylife “...your issue of bank charges has been taken up by all nine bank unions in their decision to call a strike on 22 August 2017."
In a press release today, the AIBEA said "that the burden of the corporate NPAs are sought to be put on the shoulders of the common public and banking clientele in the form of hike in fees, charges, penalties, etc. for every type of normal banking services."
These unions have over 10 lakh members, including employees and officer working on 27 public sector banks, and 21 old generation private sector banks and eight foreign banks, will participate in the 22nd August strike.
As part of its advocacy efforts, Moneylife Foundation has led the effort to fight for customer rights. Despite our efforts, we have seen very little evidence on the ground of concrete action by the regulator.
Moneylife Foundation has been at the forefront of speaking up for bank customers. An online petition launched by us has garnered more than 2.13 lakh signatures. (
Sign the Petition). The group, including well known NGOs, trade unions, finance editors and experts, had on 12 May 2017 presented a 1,100 page printout of over 100,000 signatures to an online petition at Change.org to
M Veerappa Moily, Chairman of Parliamentary Standing Committee on Finance.
Today's meeting of the unions also deliberated on the issue of their charter of demands submitted to IBA. The meeting felt that the entire process of discussions should be undertaken on a recurring and continuous basis in order to complete the settlement in time. Holding meetings once in a month will not serve the purpose and hence decided to urge upon the IBA to expedite the discussions so that steps can be taken to conclude the final settlement in time.
The meeting expressed its strong protest on the decision of the IBA to restrict the negotiations on charter of demands of officers' associations upto scale III only and demanded that as hitherto, the discussions and final Joint Note should cover all officers upto Scale VII in as much as that majority of these officers are members of their respective unions and the wage revision exercise which has been a composite one so far, should not be divided now which will create inter-scale conflicts and inequities. It was decided to pursue the matter with the IBA and if necessary and warranted resort to organisational programmes at the appropriate time.
The unions have put up the following demands:
1. Do not privatise PSBs
2. Stop plans of mergers and consolidation of banks
3. Do not write off corporate NPAs
4 Declare Willful Default as criminal offence
5. Implement recommendations of Parliamentary Committee on recovery of NPAs.
6. Ensure accountability of top management for bad loans
7. Withdraw proposed FRDI Bill
8. Abolish Banks Board Bureau
9. Do not pass on the burden of corporate NPAs on bank customers by hiking charges
10. Do not not increase Service Charges in the name of GST
11. Compensate Banks for implementing Government schema like Demonetisation, PMJDY, etc.
12. Settlemetn issues of employees and officers connected with demonetisation scheme.
13. Immediately fill up posts of Employee/Officer Director in Banks
14. Implement Compassionate Appointment Schemes in Banks as per Govt. guidelines.
15. Revise ceiling under Gratuity Act.
vijay ho! Vijay Mallaya ! Tad Vishnoh Paramam Padam ! Attained and surrendered at the lotus feet of Lord of the Lords!in UK!