VADODARA: The United Forum of Bank Emplyees Unions (UFBU) lately said they withdrew the nationwide strike call on March 15, mentioning the existing state of affairs within the banking gadget following the massive fraud at Punjab National Bank and the overall vitiated setting within the sector.
"The forum met over the weekend and decided to withdraw the strike called on March 15," CH Venkatchalam, common secretary of the All-India Bank Employees Association (AIBEA) said in a remark lately.
The remark furtehr said the forum is seriously involved over the way during which a mega fraud has taken place at PNB and the best way banks stand uncovered to such unthinkable risks.
"However, the meeting also noted that instead of a full-scale investigation, attempts are being made to single out a few lower level employees as if they alone are responsible for the fraud."
The forum also quetioned the efficacy of the financial institution's monetoring gadget saying, "no one can hide the fact that there is gross negligence of control, supervision and monitoring as well as possibilities of complicity at various higher levels of management including the top PNB officials."
They also demanded the verify the role of the Reserve Bank's monetoring gadget saying "equally, one cannot absolve RBI for its failure to play its role and responsibilities which would have otherwise unearthed these irregularities much earlier," the remark said.
"The forum met over the weekend and decided to withdraw the strike called on March 15," CH Venkatchalam, common secretary of the All-India Bank Employees Association (AIBEA) said in a remark lately.
The remark furtehr said the forum is seriously involved over the way during which a mega fraud has taken place at PNB and the best way banks stand uncovered to such unthinkable risks.
"However, the meeting also noted that instead of a full-scale investigation, attempts are being made to single out a few lower level employees as if they alone are responsible for the fraud."
The forum also quetioned the efficacy of the financial institution's monetoring gadget saying, "no one can hide the fact that there is gross negligence of control, supervision and monitoring as well as possibilities of complicity at various higher levels of management including the top PNB officials."
They also demanded the verify the role of the Reserve Bank's monetoring gadget saying "equally, one cannot absolve RBI for its failure to play its role and responsibilities which would have otherwise unearthed these irregularities much earlier," the remark said.
Bank unions call off March 15 strike plan
![Bank unions call off March 15 strike plan]()
Reviewed by Kailash
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February 26, 2018
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