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`Take steps to recover bank dues'

By Our Staff Reporter

PONDICHERRY, MARCH 14. A one-day fifth triennial conference of the Pondicherry Bank Employees Union held here on Saturday expressed concern at the `unabated increase' of non-performing assets (NPAs).

Statistics showed that during 2002-2003 only Rs. 7,236 crores of NPAs were recovered against Rs. 1,30,000 crores. A resolution demanded that banks take steps such as filing of cases in the Debts Recovery Tribunal and Lok Adalats to recover the dues.

The meeting expressed anguish over the government's decision to permit Foreign Direct Investments (FDI) in private banks up to 74 per cent of their capital.

It condemned the `undue delay by the Indian Banks' Association on the eighth bipartite wage revision.

The meet adopted a resolution condoling the death of Tarakeswar Chakraborthy, General Secretary of the All-India Bank Employees Association, in May last.

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