Banks to strike work on May 25

Chennai, March 30 (IANS) The All India Bank Employees Association (AIBEA) has called for a nationwide bank strike on May 25 in support of various demands, a union leader said on Wednesday.

AIBEA general secretary C.H. Venkatachalam told IANS that the demands include making banking a fundamental right, end to privatization of government banks, infusing sufficient capital in banks, declaring wilful loan default a criminal offence and punishing the guilty for bad loans.

Venkatachalam said there was an alarming increase in bad loans in banks, and this stood at Rs.361,000 crore as on January 31, 2015.

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