GOVERNMENT HAS FAILED TO CONTROL THE PRICE RISE – AIBEA

RAJKOT: All India Banks Employee’s Association (AIBEA) today said the UPA government’s economic policy was not in favour of labourers and people in general.

“This government has failed to control the price rise, while the GDP growth has come down to 4 per cent,” AIBEA secretary general C H Venkatachalam said here.

 

He was here to attend National Central Committee Meeting of All India Co-Operative Bank Employees Federation.

 

“Country’s economy is facing a tough time while the union government is allowing Foreign Direct Investment in banking sector and privatising and merging nationalised banks. The government should reverse its decision on FDI… privatisation and merger of nationalised banks is not the solution,” he said.

 

“As much as Rs 75 lakh crore of the people are with nationalised banks, and it could be misused after privatisation,” he said.

 

The AIBEA also strongly opposes the union government’s decision to give banking licenses to corporates, he said.

 

AIBEA has already given a call for nation-wide strike on December 19.