Bank officers coming down to field movement against FRDI
, ET Bureau|
Dec 18, 2017, 05.43 PM IST
With the clamour over proposed Financial Resolution and Deposit Insurance (FRDI) Bill climbing higher in the decibel scale, while major employees associations in banking sector have started opposing it, the conglomeration of officers associations has also entered into the arena. They may even go on strike to oppose the bill.
"We are considering the issue too seriously and determined to oppose the bill. Our opposition may even take the shape of nationwide strike if our apex organization United Federation of Bank Unions gives a call for that," said Soumya Dutta, National Joint General Secretary of All India Bank Officers Confederation and General Secretary of State Bank of India Officers Association(SBIOA), Bengal Circle.
"Now our most important task is to generate adequate awareness among common mass about the bill and its dreadful effects. A call of strike after that will encompass all sector of the society brightening the scope of positive outcome of this movement," he added.
The Bill proposes for setting up Financial Resolution Corporation (FRC), a new authority to deal with liquidation and resolution of Banks Insurance and other financial institutions.
"This FRC is going to supersede power of RBI with power power to liquidate any bank and to use depositors' money to bail-in a bank. It has created widespread fear, apprehension and panic amongst the depositors developing an unhealthy situation. We urge everyone to extend all possible support to this movement of trade unions," said Utpal Dutta, Chief Regional Secretary, SBIOA Siliguri Zonal Committee.
"Joint opposition of bank employees as well as officers will exert a major synergy in the opposition to the bill. Even a single day all India joint strike by them can come as a landmark in the financial sector of the country. But whether that can actually stop the bill or not still remains as a big question. Active and in field involvement of political parties into the fight will play a vital role," said senior trade unionist and CITU Darjeeling District Secretary Saman Pathak.
"We are considering the issue too seriously and determined to oppose the bill. Our opposition may even take the shape of nationwide strike if our apex organization United Federation of Bank Unions gives a call for that," said Soumya Dutta, National Joint General Secretary of All India Bank Officers Confederation and General Secretary of State Bank of India Officers Association(SBIOA), Bengal Circle.
"Now our most important task is to generate adequate awareness among common mass about the bill and its dreadful effects. A call of strike after that will encompass all sector of the society brightening the scope of positive outcome of this movement," he added.
The Bill proposes for setting up Financial Resolution Corporation (FRC), a new authority to deal with liquidation and resolution of Banks Insurance and other financial institutions.
"This FRC is going to supersede power of RBI with power power to liquidate any bank and to use depositors' money to bail-in a bank. It has created widespread fear, apprehension and panic amongst the depositors developing an unhealthy situation. We urge everyone to extend all possible support to this movement of trade unions," said Utpal Dutta, Chief Regional Secretary, SBIOA Siliguri Zonal Committee.
"Joint opposition of bank employees as well as officers will exert a major synergy in the opposition to the bill. Even a single day all India joint strike by them can come as a landmark in the financial sector of the country. But whether that can actually stop the bill or not still remains as a big question. Active and in field involvement of political parties into the fight will play a vital role," said senior trade unionist and CITU Darjeeling District Secretary Saman Pathak.
