AIBOC CIRCULAR NO. 76 DATED 27TH MAY 2010

AIBOC issued its circular No. 76 on serving strike notice by the United Forum of Bank of Rajasthan Unions. We are reproducing the same here for our readers.

CIRCULAR NO:76                               27^th MAY, 2010

TO ALL AFFILIATES/MEMBERS:

UNITED FORUM OF BANK OF RAJASTHAN UNIONS SERVE STRIKE NOTICE – LONG DRAWN STRUGGLE PLANNED - MOVE TO OPPOSE MERGER OF THE BANK WITH ICICI - FRATERNAL SUPPORT TO AGITATING EMPLOYEES

In view of the lukewarm response of the Management of Bank of Rajasthan and also the Reserve Bank of India and the Government, the United Forum of Bank of Rajasthan Unions were left with no alternative but to proceed with their plan of action which includes 5 days strike in the month of June 2010 in two phases.  The Strike Notice has already been served.  The details of the strike actions are as follows:-

4^th and 5^th June 2010                    2 days’ countrywide strike

17^th, 18^th,and 19^th June 2010            3 days’ countrywide strike

The Bank of Rajasthan is nearly 7 decades old and has a large branch net work in the Northern part of the country numbering about 468 branches served by over 4200 employees looking after the interest of about 20 lac customers in the country.  The Bank was predominantly present in the State of Rajasthan taking exclusive interest in the economic development of the State.  It is interesting to note that the Bank of Rajasthan is not only one of the biggest Private Sector Banks belonging to old generation but also the only Bank from the Northern part committed to the development of the people of the country as per the guidance and directives of the Government of India from time to time.

The move to merge this Bank with ICICI Bank is only to enable the major share holder who was one of the promoter to see that his stakes are sold for a huge profits.  It is in this background the developments were taking place behind the curtain and the deal was struck despite the fact that the RBI had noticed certain adverse features and wanted those issues to be resolved through proper administration of the Bank and to ensure against the interference of the stake holders.  The employees were putting their heart and soul to recover the past glory of the bank affected due to mismanagement and vested interest groups.  The decision to merge the bank with the ICICI Bank has come as a rude shock to all of them and they have rightly chosen to go to streets to demonstrate their agitation and seek justice for their demands.

The issue involved in the strike is not an economical one.  It is only one point agenda. The Bank should not be merged with ICICI Bank.  If there is a need for merger it should be merged with a Public Sector Bank.  This is desire of the entire workforce in the Bank and rightly they have come together under the umbrella of United Forum of Bank of Rajasthan Unions.

We have already conveyed our support to the agitation.  All our Affiliates/State Units are requested to extend their solidarity support to the struggle and send a fax to the Central Government, Reserve Bank of India, expressing our resentment over these developments.  The fax should be sent immediately.  The text is appended:

“

1.          Shri.Pranab Kumar Mukherjee,

          The Honorable Minister of Finance,

          Government of India

          New Delhi

2.        Shri.D. Subba Rao,

          Governor,

          Reserve Bank of India,

          Mumbai.

Dear Sir,

We strongly protest against the proposed move of the Boards of the Bank of Rajasthan and ICICI Bank for the merger of the Bank of Rajasthan with the ICICI Bank through the secret deal that has taken place between the major stake holder of Bank of Rajasthan whose conduct was under scrutiny of SEBI as well as the Reserve Bank of India and also placed the bank in a difficult situation.  The employees of the Bank numbering over 4200 are on continuous agitation and strikes opposing these developments.  We therefore request your immediate intervention to avert the agitation escalating further and also engulfing the industry as a whole.

Please treat the matter as urgent.

GENERAL SECRETARY                                     PRESIDENT”

The Copy of the fax should be forwarded to our office.

All our Affiliates and State Units are also requested to extend their full support to the various actions programmes initiated by them. They should also mobilize a large number of our members to participate in the rallies and demonstrations conducted by the United Forum of Bank of Rajasthan Unions.

Comrades, the present move is yet another fatal blow to our industry by the New Generation Private Sector banks who are owned by the multinationals.  We have been spearheading a strong movement against such moves for the last two decades.  This is yet another sinister design of those who have been championing the cause of the globalization and privatization of the financial sector in particular the banking industry to break the backbone of the economic prosperity of this country.  Let us therefore be prepared to mount greater pressure on all concerned to prevent these initiatives.

With warm greetings,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY