Kerala - Kollam   

Bank union plea to Government

By Our Staff Reporter

KOLLAM, NOV. 22. The 16th national conference of the State Bank of Travancore Staff Union has called upon the Union Government to ensure a banking system in which banks are made a play a more active role in the nation's development process.

The resolution pointed out that following the reforms introduced in the banking sector since 1991, not only have advances to the agriculture and industrial sectors come down, public sector banks too are encountering a downfall.

The social obligation of banks have been demolished. Instead of advancing loans, banks are now made to engage in selling shares and make profits. The farmers are now in a pre-bank nationalisation stage as a result of which they are forced to seek loans from money-lenders.

The resolution also called for initiation of steps aimed at reviving the traditional industries of the State. The traditional sector has the scope to provide employment to several lakhs of persons. But the UDF Government was not viewing this aspect seriously.

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