RBI directive to Dena Bank: Associations to meet Piyush Goyal

RBI directive to Dena Bank: Associations to meet Piyush Goyal

Agency News

All India Bank Employees' Association (AIBEA) and All India Bank Officers' Association (AIBOA), under the leadership of AIDBECC and AIDBOU, have decided to submit a memorandum to Interim Finance Minister Piyush Goyal demanding withdrawal of Reserve Bank of India (RBI)'s directive to Dena Bank.

AIBEA General Secretary Ch Venkatachalam and AIBOA General Secretary S Nagarajan, in a letter to all its units and members, said while most of the Banks are facing problems of huge bad loans, higher provisions and net losses, and Banks are working out turnaround strategies, the RBI recently has issued directions to Dena Bank that the Bank cannot make any fresh lending or sanction of any loans and has also put a ban on recruitment and appointments in the Bank. Needless to explain that these measures will adversely affect the Bank and would virtually cripple the Bank, they said.

Venkatachalam and Nagarajan said that the meeting, on Wednesday, also decided to meet the Governor, RBI to take up the matter to rescind the embargo, top management of Dena Bank to prevail upon them for joint endeavours to take the Bank out of the present mess, holding dharnas in 20 important centres to protest against the RBI directive.

The dharnas will be in Mumbai, Delhi, Kolkata, Chennai, Ahmedabad, Gandhi Nagar, Baroda, Surat, Rajkot, Bhavnagar, Mehsana, Hyderabad, Bangalore, Lucknow, Bhopal, Jaipur Patna, Ranchi, Pune and Nasik.

They said there will be observance of All India Day in Dena Bank with mass meetings, demonstrations and badge wearing, submission of mass memorandum by all employees of Dena Bank to Governor, RBI to reconsider the embargo.