AIBOC issued its circular No. 19 on the nationalisation of Catholic Syrian Bank. We are reproducing the same here for our readers.
CIRCULAR NO.19 26.02.2010
TO ALL AFFILIATES/MEMBERS:
CATHOLIC SYRIAN BANK SHOULD BE NATIONALISED OR MERGED WITH A PUBLIC SECTOR BANK - EXECUTIVE COMMITTEE OF THE CONFEDERATION MOVES A RESOLUTION
The Executive Committee of the All India Bank Officers’ Confederation met at Panjim:Goa on 17th February, 2010 had an occasion to deliberate on the present structure of the Banking Industry in the backdrop of the attempts of the Government to hand over some of the old Generation Private Sector Banks to the new Generation Private Sector Banks, a move to ensure the participation of the multinational investors in the operations of the Banking Industry, despite the strong resistance of the unions in the Banking Industry as well as the people of this country. The Confederation has been championing the cause of the Private Sector Banks since the last 2 decades and has been demanding their Nationalisation since they are akin to the Public Sector Banks in the matter of business operations and also the cultural ethos prevailing in all these banks. Many of these banks have their own clientele and the business model catering to the customers in their limited geographical jurisdiction in an effective manner. Their size and equity is small in comparison with the giants who are operating under the new generation Private Sector Banks indirectly supported by the multinationals through equity participation. These banks have been eyeing on the private sector banks who have a good branch net work in their area of operation and also running the business in an effective manner with a view to utilize the readily available infrastructure.
The members of the Executive Committee expressed their concern in regard to the recent developments in the matter of taking over the Catholic Syrian Bank by some of the new Generation Private Sector banks in order to utilize the infrastructure created by this oldest private sector bank. The Catholic Syrian Bank has made tremendous contributions to the growth of the economy of the State of Kerala and Tamil Nadu over the last 70 years being one of the oldest Private Sector Banks. They have a committed clientele who would like to retain the current image of the bank given an option. The employees and officers are also worried about these developments and have been agitating over these developments and have been expressing a strong resentment for such take over by the New Generation Private Banks in view of the recent experience in respect of some private banks which were operating in the State of Kerala State.
After a threadbare discussion on the points made by the members of the Executive Committee it was resolved as under:-
Resolution:-
CATHOLIC SYRIAN BANK SHOULD BE NATIONALISED OR BE TAKEN OVER BY A PUBLIC SECTOR BANK
The Executive Committee which met at Panjim:Goa on 17th February, 2010 took note of certain developments in respect of the Catholic Syrian Bank and the attempts of some of the Private Sector Banks for taking over the same in the name of consolidation of the banking industry. The members of the Executive Committee were concerned to note that these developments are bound to hurt the yeomen service that is being extended by the Catholic Syrian Bank branches which are situated largely in the State of Kerala and Tamil Nadu through its dedicated commitment and concern to the welfare of the common people of these areas over the last 70 years. The members were also concerned that the attempt of some of the Private Sector Banks if allowed to succeed it would result in the reduction of the branches of this bank which is functioning akin to the Public Sector Banks in the matter of extending credit facilities and discharge of social responsibilities to the society as directed from time to time by the Government of India to all the Public Sector Banks. The Catholic Syrian Bank is like any other Public Sector Bank in regard to the extension of rural credits as well as priority lending. In this background, handing over this bank to the Private Banks who are only interested in using the resources available in the Bank for the selfish ends of the promoters of those banks is not warranted at this stage. Hence, the members were of the unanimous view that the Government should be urged upon to merge this bank with any of the Public Sector Banks functioning in the country rather allowing it to fall prey to the poaching game of some of the private banks operating in the country.
The members of the Executive Committee of the Confederation therefore urge upon the Government to take into consideration the sentiments of the Officers’ Confederation and ensure that the Catholic Syrian Bank be nationalised or be merged with any of the Public Sector Banks instead of allowing it to fall into the hands of a Private Bank.
The resolution was moved by Com.P.V.Mathew, the Vice President of the Confederation.
The resolution was seconded by Com.K.Ananda Kumar, the Vice President of the Confederation.
The resolution was adopted unanimously.
Comrades, we have to-day sent the resolution to Shri.Pranab Kumar Mukherjee, Minister of Finance, Government of India, New Delhi urging upon him to consider our resolution favorably. A copy of the letter addressed to the Government has been endorsed to the Reserve Bank of India for information and necessary action.
All our affiliates/members are requested to await further developments in this regard.
With greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
No.1410/58/10 26.01.2010
To,
Sri. Pranab Kumar Mukherjee
Hon’ble Finance Minister,
Government of India,
South Block,
Parliament House,
New Delhi.
Dear Sir,
FUTURE OF CATHOLIC SYRIAN BANK - MERGER WITH THE PUBLIC SECTOR BANK
The Executive Committee of the All India Bank Officers’ Confederation which met at Panjim:Goa on 17th of February 2010, had an occasion to discuss the future of the Catholic Syrian Bank in the background of certain moves made by some of the Private Banks to take over the same. The Executive Committee members were very much concerned to note these developments in view of the fact that the Catholic Syrian Bank is one of the oldest Private Sector Banks functioning in the same way as that of a Public Sector Banks in regard to the extension of various facilities to their clientele. The Bank has branches predominantly in the State of Kerala and Tamil Nadu which is catering to the needs of the rural population in the interior parts it is serving. It is also discharging its social responsibilities on par with the Public Sector Banks functioning in these areas. Hence, any attempt to take over this bank by another Private Sector Bank will only result in denying the credit facilities and also the banking facilities to the people it is serving at present on the same lines as that of a Public Sector Banks.
The members of the Executive Committee were therefore of the unanimous view that the Government should intervene and take necessary steps to merge the Catholic Syrian Bank with a Public Sector Bank operating in the country so that the benefit of banking facilities including the priority lending and other social obligations discharged by a Public Sector Bank is available to the customers of the Catholic Syrian Bank. The Executive Committee of the Confederation accordingly adopted a resolution for the consideration of the Government.
We therefore request you to kindly look into the matter and take necessary steps to meet the demand of the Confederation made through the Resolution.
Please treat the matter as urgent.
Thanking you,
Yours faithfully,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
No.1410/59/10 26.01.2010
To,
The Governor,
Reserve Bank of India,
Central Office,
Shahid Bhagat Singh Road,
MUMBAI – 400 001
Dear Sir,
FUTURE OF CATHOLIC SYRIAN BANK
MERGER WITH THE PUBLIC SECTOR BANK
The Executive Committee of the All India Bank Officers’ Confederation which met at Panjim:Goa on 17th of February 2010, had an occasion to discuss the future of the Catholic Syrian Bank in the background of certain moves made by some of the Private Banks to take over the same. The Executive Committee members were very much concerned to note these developments in view of the fact that the Catholic Syrian Bank is one of the oldest Private Sector Banks functioning in the same way as that of a Public Sector Banks in regard to the extension of various facilities to their clientele. The Bank has branches predominantly in the State of Kerala and Tamil Nadu which is catering to the needs of the rural population in the interior parts it is serving. It is also discharging its social responsibilities on par with the Public Sector Banks functioning in these areas. Hence, any attempt to take over this bank by another Private Sector Bank will only result in denying the credit facilities and also the banking facilities to the people it is serving at present on the same lines as that of a Public Sector Banks.
The members of the Executive Committee were therefore of the unanimous view that the Government/Reserve Bank of India should intervene and take necessary steps to merge the Catholic Syrian Bank with a Public Sector Bank operating in the country so that the benefit of banking facilities including the priority lending and other social obligations discharged by a Public Sector Bank are available to the customers of Catholic Syrian Bank. The Executive Committee of the Confederation accordingly adopted a resolution for the consideration of the Government/Reserve Bank of India.
We therefore request you to kindly look into the matter and take necessary steps to meet the demand of the Confederation made through the Resolution.
Please treat the matter as urgent.
Thanking you,
Yours faithfully,
SD/-
(G.D. NADAF)
GENERAL SECRETARY
+1.jpg)
0 comments
Post a Comment