Bank's Union Demanding Reinstation of Employees Direcors Post in Public Sector Banks

Banker's Union has demanded the appointment of Employees director on Public Sector Board as per the Bank Nationalisation Act. They even linked the non appointment of Officers as well as employees directors on Bank board for failure in checking the fake loan or other frauds. Bank Unions has shown the concern on recent Public sector frauds as like PNB's Rs 11,400 crore frauds and argued that it was not the fraud rather system failure.

Currently None of the Public Sector Banks are having Workman's as well as officers director on Board of the bank.

CH Venkatachalam, general secretary, All-India Bank Employees’ Association (AIBEA) has said in the statement that 

Attempts are being made to dilute the magnitude of the fraud as one bank one branch two employees fraud. Such huge frauds cannot be committed in a simple way that a branch official would give LoU for Rs 11,400 crore in a period of 6 or 7 years without no one knowing about it... It is very strange that EDs, MDs, CEOs, Chairman, Directors of the Banks are not covered by any Disciplinary and Conduct Regulations though they take very vital decisions.

He has also threaten to file a PIL (public interest litigation) after consulting some lawyers.