All our units and members are aware that the Government is stepping up
its measures to implement their reforms agenda.
On the one hand, efforts are being taken to dilute the Government’s
equity capital in public sector banks and on the other hand, private capital
is being encouraged in our banking sector.
Similarly, instead of expanding the Banks to further reach out to the
masses of the people, their agenda is consolidation and mergers.
We also observe that for the corporate defaulters, concessions after
concessions are given but poor farmers are harassed and haunted.
Instead of giving adequate capital to our public sector banks, they are
busy with FRDI Bill providing for liquidation of Banks.
While there is no hesitation to write off corporate loans, there are
attempts to pass on this burden on the shoulders of the customers by
increasing service charges and reduction in interest on Deposits.
Hence it is highly imperative that we must intensify our campaign
amongst the people at large about these anti-people banking policies and
build up a broader resistance movement to save our Banks. Recently, our
Joint Central Committee meeting held at Delhi has given the clarion call to
launch the campaign and mobilize public support.