Sunday , March 24 2019

All India Bank Employees’ Association is all set to turn 10 weak PSBs

The All India Bank Employees’ Association is ready to turn 10 weak Banks. They are ready to work for the upliftment of their banks but has certain different opinions with the Government policies.

The All India Bank Employees’ Association (Aibea) General Secretary C.H. Venkatachalam revealed IANS late on Wednesday, that they are all set to turn around ten weak banks. He further told about the meeting to be held in Chennai on April 13 and 14, with the leaders of their unions in these 10 banks. He assured that they will give optimistic suggestions to curb bad loans and to minimise bank expenses to help Banks to recoup their losses. On the other hand, the central government has infused fresh capital totalling Rs 8,586 crore to 10 weak banks to fulfil their quarterly milestones.

Earlier the government decided to infuse capital with a condition. This condition is the tripartite agreement between the government, bank management and employee unions, wherein they are supposed to pledge themselves towards certain goals. The action plan would be prepared by SBI Caps. As per Venkatachalam, now it could be that each bank would put its turnaround plan in front of SBI Caps, then SBI Caps would suggest them if any. Venkatachalam said: “In the original proposal, the government wanted us to sign a MoU (Memorandum of Understanding) empowering SBI Caps and managements of banks to finalise a MoU on turnaround and unions to implement it.”

Venkatachalam told that after the association had a discussion with the government, they together agreed the final MoU, which also comprise a new clause that the interests of the interests of the employees and officers will be considered, would be discussed with Union before finalising.

Venkatachalam revealed that they have a certain mismatch of opinions with the government on few policies and have differences with the management on some of their demands. However, they are always ready to work for the upliftment of their banks as the PSB’s deal with people’s money and belong to the people and nation. And they feel committed to the successful performance of their banks and in their turnaround.


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