The Government should decline to accept the adverse recommendations of PJ Nayak Committee which was set up by the Reserve Bank of India, says the All India Bank Employees’ Association (AIBEA).

AIBEA is the largest trade union body representing about half-a-million bank employees.

In its pre-budget memorandum to the Union Finance Minister, it has also demanded that the Government holding in the public sector banks should not be reduced below 51 per cent, and that the governance board of PSBs should be enlarged, and strengthened throught the appointment of professional persons from various fields of interest.

The trade union body has also demanded that the chairman and managing director should have a minimum tenure of three years.

Bank loan defaulters

Calling for strict action against defaulters of bank loans, it has also called for willful default of bank loans to be declared as criminal offence through suitable amendment of law.

It has also recommended that the defaulters list should be published in public interest once in every six months. Theyshould not be permitted to contest in the election, either to the Legislative Assembly or in the Parliament Elections, it said.

AIBEA has also criticised the Reserve Bank policy on bank licensing and said that on-tap licencing policy should be discontinued.

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