(a) whether the employees of nationalised banks throughout the country went on strike recently;
(b) if so, the total financial loss due to this strike ;
(c) the main demands of the bank employees ; and
(d) the reaction of the Government thereto ?
(a) whether the employees of nationalised banks throughout the country went on strike recently;
(b) if so, the total financial loss due to this strike ;
(c) the main demands of the bank employees ; and
(d) the reaction of the Government thereto ?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) : Yes, Sir.
(b) : Strike in banking industry does cause inconvenience to the public and financial loss to trade and industry as the business cannot be transacted and clearing operations get affected on the day of strike. However, it is not possible to quantify the loss on this account.
(c) & (d) : The issues against which bank employees went on strike and Government`s reaction thereto are given below :
Issues Government`s Reaction
1. Public Sector Banks should not be privatized Government has no plans to privatise public sector banks. It is proposed to introduce a legislation in the current Session of Parliament reducing the requirement of minimum of shareholding of Government in public sector banks from 51% to 33%. However, this is being done to enable banks to raise equity from market to meet their capital adequacy requirements. It has been made very clear that the public sector character of the banks will be maintained while doing so.
2. Voluntary Retirement Scheme in Public Sector Banks Indian Banks` Association representing the management of banks has circulated a Voluntary Retirement Scheme to the banks for consideration and adoption by their Boards. This is being done with a view to enabling the banks to optimize their human resource. As is evident from the nomenclature of the Scheme itself it is voluntary in nature. It has been made very clear that no employee will be coerced to accept voluntary retirement.
3. Reduction in retirement age from 60 to 58 years This is just a recommendation of the Committee on Human Resource Management. This is yet to be examined and no final decision has been taken.