AIBOC CIRCULAR NO. 74 DATED 28.07.2011

AIBOC issued its circular No. 74 dated 28.07.2011 on massive dharna held across the country by UFBU state units. We are reproducing the same here for our readers.

CIRCULAR NO. 74                                                                     DATE: 28.07.2011

To, All Affiliates /Members

MASSIVE DHARANA HELD ACROSS THE COUNTRY BY UFBU STATE UNITS

We are receiving informations from our affiliates, across the country, that, massive Dharanas were held by the members under the banner of UFBU. We congratulate and compliment all the participants.

In the mean time, Government of India is planning to push the passage of Bills in the monsoon session of the Parliament on Banking Regulations Act and Banking companies  (Acquisition and Transfer of undertakings)  Act, 1970 /1980. Through these bills, Government is proposing to,

Ø  Exempt merger of Banks from the purview of competition Act 2002, so that, consolidation can be expedited without any hindrance.

Ø  Re-defining securities so that Banks can invest their funds in any company.

Ø  Allow discretion to RBI to permit individual  investors /corporates /FDIs to invest more than 5% of the capital in Private Banks.

Ø  Remove 10% cap on voting rights in Private Banks.

Ø  Provide sweeping powers to RBI to supersede the Boards of Banks and appoint administrates to run the Banks.

Ø  Remove ceiling on Authorized capital in Public Sector Banks

Ø  Increase ceiling on voting rights from 1% to 10% in Public Sector Banks etc.

The Chief Labour Commissioner (Central), has called for conciliatory meeting on 1st August 2011, at 11.00 am at Delhi. This may be a routine exercise. The UFBU will meet after the CLC meeting to take stock of the situation and to decide the further course of action. We are receiving reports that, the membership is in readiness to jump in to action at short notice. It is necessary to observe all action programmes of UFBU in letter and spirit. Our leadership shall brief the general public and members of Parliament/ Legislatures to get their support to our just demands.

Comrades, UFBU will create another milestone by observing a day’s protest strike in the Banking Industry on 5th August 2011. Let us be a part of this historic event.

MANY A BATTLE WE HAVE FOUGHT

NOT A SINGLE WE HAVE LOST.

MARCH ON COMRADES, MARCH ON ----

With revolutionary greetings

Sd/-

(G.D. NADAF)

GENERAL SECRETARY