Bank unions have decided not to proceed with the proposed strike on March 15. This follows the “vitiated atmosphere” in the entire banking sector following the ₹11,400-crore PNB fraud that has shocked the entire country.
A decision to drop plans for the March 15 strike on this account was taken at a meeting of the United Forum of Bank Unions (UFBU), CH Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA), told BusinessLine . UFBU is the representative body of nine bank unions in the country.
The UFBU also decided to hold a dharna before Parliament House on March 21, demanding action on all those involved in the PNB fraud.
Venkatachalam said that 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 officials of the bank.
Equally, one cannot absolve the RBI for its failure to play its role and responsibilities which would have otherwise unearthed these irregularities much earlier, he added.