AIBOC CIRCULAR NO. 73 DATED 21.08.2012

AIBOC issued its circular No. 73 dated 21.08.2012 on proposed Banking Laws (Amendment Bill). We are placing the same here for our readers.

CIRCULAR NO.73                                       21st August, 2012

TO ALL AFFILIATES/MEMBERS:

BANKING LAWS (AMENDMENT BILL) COMING TO LOK SABHA ON 22ND AUG. FOR PASSAGE - REGISTER YOUR PROTEST BY MAKING THE STRIKE ON 22/23 AUG. A TOTAL SUCCESS

We reproduce hereunder the text of the UFBU Circular No.22 dated 19th August, 2012 contents of which are self-explicit.

With greetings,

Sd/-

(D.S.RISHABADAS)

GENERAL SECRETARY

TEXT

As per the official information available from the Lok Sabha website, the Banking Laws (Amendment ) Bill is coming to the Parliament on 22nd August, 2012 with the proposal to get it passed.   This only shows that the Government is insensitive to our viewpoints, protests and objections to the proposed amendments which are retrograde.

The Bill seeks to amend the Banking Laws – to make bank mergers more easy, to increase the voting rights of shareholders from 1 % to 10 % in public sector banks and from 10 % to 26% in private banks, to permit Forward Contract transactions, to remove the restrictions on total capital of Banks, to give powers to RBI to supersede the Board of any Bank, to issue Bonus Shares and Rights Shares in Public sector banks etc.  All these relaxations in regulations will dilute the scope of public sector banks and allow more and more influence of private domestic and foreign capital in the banking sector.

 

Hence let us make the strike action on 22nd and 23rd August, 2012 a total success.

With regards,

Sd/-

(P.K.SARKAR)

CONVENOR

SEND AS MANY TELEGRAMS / FAX/ EMAIL AS POSSIBLE:

TO HON. FINANCE MINISTER, GOVT OF INDIA, NORTH BLOCK, NEW DELHI

-       “WE PROTEST PROPOSED AMENDMENT TO BANKING LAW AMENDMENT BILL – DEMAND WITHDRAWAL …………….………….. “

FAX NO. 011- 23094221/23092979    OR EMAIL TO: secy-fs@nic.in

LOK SABHA

LIST OF BUSINESS

Wednesday, August 22, 2012 / Sravana 31, 1934 (Saka)

11 A.M.

QUESTIONS

1. QUESTIONS entered in separate list to be asked and answers given.

2. CONSIDERATION of any item of Government Business entered in the List of Business for Tuesday, the 21st August, 2012 and not concluded on that day.

LEGISLATIVE BUSINESS

Bill for consideration and passing

Banking Laws (Amendment) Bill, 2011. 3. SHRI P. CHIDAMBARAM to move that the Bill further to amend the Banking Regulation Act, 1949, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and to make consequential amendments in certain other enactments be taken into consideration. (Amendments printed on separate lists to be moved) ALSO to move that the Bill be passed.

NEW DELHI;                                                      T.K. VISWANATHAN,

August 17, 2012                                                 Secretary-General.

Sravana 26, 1934 (Saka)