CIRCULAR NO. 26/97/2011/14 21st July, 2011
TO ALL UNITS AND MEMBERS:-
Dear Comrades,
- Make the 5th August, 2011 Strike a total success
- Beware – Government is on the move
We are sure that all our unions are taking all-out steps to mobilize all our members for the agitational programmes and make the 5th August Strike a total success.
Already the Government has introduced the Banking Laws (Amendment) Bill, 2011 in the Parliament. The Bill contains various retrograde proposals to make our Banks at par with other commercial companies/entities devoid of social orientation. Intrusion of private capital will be the consequence. Influence of private capital will be imminent. The Bill is a wholesale attempt to dilute Public Sector banking. Hence we must fight back and defeat such attempts. Hence the significance of the strike.
At a time when the global experience has exposed the myth of efficiency of private sector banking, our Government is attempting to open up our Banks to the vulnerabilities of private capital ! In USA alone, 352 private banks have collapsed in the last three years.
Banks collapsed in USA
In 2009 : 140 Banks
In 2010 : 157 Banks
In 2011 (Till today) : 55 Banks
352 Banks
Instead of learning lessons, our Government is eager to increase private sector capital in our Banking Sector.
Finance Minister says : Government will go ahead :
While talking to press persons, Finance Minister has said that the Government would continue with banking sector reforms.
Business Line, July 20, 2011, New Delhi
Pranab pooh-poohs reform fatigue, policy inaction
The Finance Minister, Mr Pranab Mukherjee, denied any ‘reform fatigue' or policy inaction by the UPA Government.
Seeking to allay such fears, Mr Mukherjee told reporters at his North Block office here on Wednesday that a series of major economic enactments are likely in the upcoming monsoon session of Parliament beginning August 1. Bills on land acquisition, mining and mineral development, food security and the Lokpal will be introduced,
“On growth, inflation and reform measures, there is an impression that as if we have given up. I see no reason for such cynicism. All measures are being taken and there is no let-up in our efforts. There is a due process for each enactment and Government has to go through them,” Mr Mukherjee said.
He hoped that some of the financial sector-related Bills that were already introduced in the Budget session would get enacted.
The pending Bills include the Factoring Bill, the Banking Laws (amendment) Bill 2011 and the State Bank of India (subsidiary banks laws) Bill 2011
Mr Mukherjee indicated that the Government may pursue legislative changes to ensure more consolidation within the State Bank of India group. Continuing the consolidation drive, the Government may facilitate SBI in bringing under its fold at least two more associate banks this fiscal.
He also highlighted that the Government had already initiated the process of rewriting some of the old financial sector laws.
Comrades, attacks are ringing at our door-steps. Concerted and continued fight alone can repulse these attacks. Gear up the rank and file. Gird up the loins. Make the strike a total success.
With greetings,
Yours Comradely,
C.H.VENKATACHALAM
GENERAL SECRETARY