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India needs Strong Banks not Bigger Banks: NCBE GS M V Murali

Published: 27 May 2013
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 M V Murali, General Secretary of National Confederation of Bank Employees [NCBE] in India; highlighted the anti-competition, anti-social provisions in the new banking industry reforms introduced in India. Explaining about the new banking sector reforms to a Japanese Trade Union delegation led by UNI Apro Finance President Yutaka Seki, Murali said the proposed banking industry reforms are unlikely to reduce financial exclusions amongst the marginalized in India. Following the nationalization banking industry spear headed the development path on social orientations in India said Murali.



Responding to the anti-social nature of banking industry reforms trade unions launched a protest campaign in the best interest of the society. Thanks to the relentless efforts and restraints demonstrated by Banking Industry trade unions: Mergers and acquisitions between banks are now controlled by Competition Commission India. This was necessary to stop reversal of benefits gained by vast rural communities following nationalization of banks in 1969 in India. State owned banks are continuing with the catalyst role in the economic development and the employees and their trade unions in banking industry are playing an important function through financial empowerment in rural India.



Yutaka Seki led a trade union delegation representing Federation of Non-Life Insurance Unions and Trust Bank Federation to India to participate at the events held in conjunction with 46th ADB Annual Governors Meeting, 2-5 May 2013 held in New Delhi India.

Former President of NCBE, Milind Nadkarni and General Secretary of All India Bank of Baroda Employees Federation arranged the meeting for visiting Japanese delegation with NCBE General Secretary . Prem Makker Zonal Secretary of All India Bank of Baroda Officers Association and Jayasri Priyalal Director UNI Apro Finance Sector activities joined the meeting with the visiting Japanese delegation.

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