Central Bank staff take out rally for action against defaulters

Central Bank staff take out rally for action against defaulters

Employees of the Central Bank of India (CBI) took to the streets on Sunday evening demanding that the government take stern action against wilful loan defaulters who are pushing the banking industry into a crisis.

Hundreds of bank employees under the aegis of the Central Bank Officers’ Union and the Central Bank of India Employees’ Association took out a rally from Hotel Swarna Palace junction to the Lenin Centre raising slogans against the defaulters.

All India Bank Employees Association national secretary and All India Central Bank Employees’ Federation general secretary B.S. Rambabu, who led the protestors, said that the Central Bank of India employees, after a recent meeting, had decided to protest against the defaulters and mount pressure on the government.

Rs. 3000-crore dues in AP

“Defaulters owe Rs. 25, 000 crore to the CBI country wide and Rs. 3,000 crore in AP alone. On the whole, defaulters owe Rs. 13 lakh crore to the 25 central banks which are being pushed into a crisis. It is time the government acted tough against top defaulters like Vijay Mallya and arrest them so as to send a warning to the other defaulters. Instead, to divert attention, the government is trying to merge the nationalised banks while simultaneously encouraging corporate banks,” he said.

“Publicising list of all defaulters, prosecuting them criminally under CrPC, seizure of their properties and restraining them from involvement in any public institutions are our top four demands,” he added.

Source:The Hindu