News

Bank employees mobilized under the banner of United Forum of Bank Unions (UFBU) in India are from dawn to dusk strike today 22nd August 2017. Over ONE million bank employees are joining the strike against the anti-people banking reforms, favouring the Big Bad Borrowers who have become willful defaulters of bank loans obtained from the Public Sector Banks.

Sanjeev Kumar Bandlish, Convener of the UFBU reported that the forum members observe that the Public Sector Banks have failed to take timely remedial measures to recover the alarmingly increasing bad loans –Non Performance Assets [NPA]- threatening to drive the banks into a serious crisis.

The UFBU is concerned as the banks are passing the burden of the corporate  NPA are put on the shoulders of the common man and the banking clientele in the form of hike in fees, charges, penalties on routine banking transactions.  Sanjeev declared that the banks should take tough measures including criminal actions on wilful defaulters to recover the huge bad loans given to the corporate houses, big business and top industrialist in India.

UFBU has launched a massive campaign struggle over 17 issues and demands, and call for their members to rise to the occasion to save the Public Sector Banks, urging the banks to implement the recommendation of the Parliamentary on Recovery of NPA’s expeditiously.   

The bank unions in India are planning to convene a massive rally in the capital New Delhi on 15th September 2017 to mobilize their membership to call the authorities to take appropriate actions to strengthen the banks working to stimulate growth in the economy for sustainable growth for shared prosperity for all.

[Please ref the related document – UFBU Circular UFBU/2017/10 for details]