UBFU Letter About Bank Strike

....The Discussion Paper also proposes that the Banks may resort to merger of Banks to become international Banks. Our Banks are meant for our own economic development and hence this is clearly unwarranted. Further merger has its own adverse implications to the detriment of the employees and officers working in the Banks. RBI has also issued recent guidelines by which it is proposed to give the Foreign Banks, near national status and even a scope to take over our domestic Banks. Already, the foreign capital and investments in our Banks have been increasing and now the move is to allow the foreign banks to take over our Banks. In the name of Reforms, the Banks are also outsourcing the regular jobs in the Banks on contract basis thus increasing the risks involved...........

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