United Forum of Bank Unions (UFBU), the umbrella body of nine trade unions of Banks, has called for a ralley on 21st March in Delhi.
They have demanded a thorough Joint Parliamentary Probe (JPC) probe into the recent banking scams.
The Bank unions also demanded that the Centre take steps to restore investor confidence in public sector banks post Punjab National Bank scam.
Bank Union Said that
We are demanding a detailed JPC probe into the recent Punjab National Band (PNB) fraud committed by two diamond traders and then fled the country. The goverment should set up a JPC probe as had been done after the Harshad Mehta scam in 1992,” Siddhartha Khan, the West Bengal convenor of UFBU told reporters during a news conference here on Monday.
UFBU also alleged that the banking regulator RBI had failed in having the right control or supervision to prevent occurrence of these scams.
In order to protect the right of lower level employees, they insisted that they were being made scapegoats.
“The top level employees should also be probed. It is only the lower level employees and clerks who are being made a scapegoat in these bank fraud cases,” he further added.
All the nine trade unions are also planning to organize a rally on March 21 in front of the Parliament highlighting issues plaguing the banking sector that include rising levels of NPAs and increasing incidence of scams.
The UFBU has also opposed the proposed Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, in which the ‘bail-in’ clause puts the depositors’ money at a risk.
Input from BL