Bank unions forum opposes financial reform

BANGALORE: All the nine constituents of United Forum of Bank Unions (UFBU) on Thursday staged a dharna at Kempegowda Road against the proposed financial reforms of Government of India and pressing for resolution of their long pending demands.Addressing the dharna, G D Nadaf, General Secretary, All India Bank Officers Confederation (AIBOC) said, “The UFBU is against government’s move to reduce its equity in the public sector banks, increase in FDI, removal of 10 per cent cap on voting rights, outsourcing of routine banking jobs, issuing bank licenses to Corporate Houses, unilateral implementation of the recommendations of the Khandelwal Committee.” He further said, misquoting the Supreme Court verdict, the compassionate appointment scheme in banking industry is almost scrapped from 1996.The Regional Rural Bank staffs are deprived of a decent pension and parity in service conditions with sponsor banks. The demands of cooperative sector and daily deposit collectors are also pending, Nadaf said.