For Immediate Release Support Bank Strike against Mergers and Bank Charges September 23, 2019: Financial Accountability Network, India stands in solidarity with the strikes and protest actions announced by the bank officers and employee unions. Four officers’ unions All India Bank Officer’s Confederation (AIBOC), the All India Bank Officer’s Association (AIBOA),…
Tag: Bank mergers
Mergers to result in global banks? They would be worth $4 bn vs big banks’ capital $70-80 bn
Four officers’ unions, All India Bank Officer’s Confederation (AIBOC), the All India Bank Officer’s Association (AIBOA), the Indian National Bank Officer’s Congress (INBOC) and the National Organization of Bank Officers (NOBO), have called for a strike on September 26 and 27 to protest against the merger of 10 state-run banks…
Bank Mergers did on behalf of Corporates: Sitaram Yechury
For Immediate Release Bank Mergers did on behalf of Corporates: Sitaram Yechury Economists, Unionists and Political Party leaders discuss RBI reserve fund transfer & bank mergers New Delhi, September 3, 2019: “The transfer of RBI’s surplus to the government destabilises the RBI, makes India vulnerable in an on-going global and…
Banks merger ‘reflects’ Modi’s pro-corporate slant: Public sector units deserve to die
Several civil rights organizations, trade unions and their representatives have called the recent Government of India announcement of the merger of 10 public sector banks (PSBs) as a systematic step towards “privatising” them, adding, it is line with “a slew of waivers” for the so-called wealth creators, who are actually…
Transferring RBI surplus to govt, banks” merger to aggravate economic slowdown: Yechury
New Delhi, Sep 3 The twin moves of transferring RBI surplus to the Union government and merger of banks will further aggravate the slowdown the Indian economy is facing, CPI(M) general secretary Sitaram Yechury said on Tuesday. Speaking at a debate hosted by the Financial Accountability Network, he said the…
Mergers! Systematic Privatisation of Public Sector Banks
For Immediate Release Mergers! Systematic Privatisation of Public Sector Banks New Delhi, September 2, 2019: We the undersigned organisations and individuals condemn the Government’s decision to merge 10 Public Sector Banks (PSBs) and demand immediate withdrawal of the mergers; Stop Privatisation of the PSBs; Take genuine actions to recover bad…