Kerala - Kozhikode   

`Anti-outsourcing Day' observed

Special Correspondent

KOZHIKODE: As part of the campaign against out-sourcing and other "anti- labour" initiatives of the Government, "anti-outsourcing day" was observed on Wednesday under the auspices of All India Co-ordination Committee of Unions in Financial Sector (AICCUFS) at Kalpetta in Wayand.

The day was observed to protest against initiatives of the managements in banking and insurance sectors to outsource the core functions of these institutions in the country.

The Reserve Bank of India (RBI) is going to handover clearing related works and other banking functions to outside agencies, the leaders said.

At a meeting held here on Wednesday, speakers remarked that outsourcing was a threat to the banking industry and it would expose banking systems and procedures to the outside world thereby making it difficult to maintain confidentiality in transactions.

They said that it would undermine job security and destroy job opportunities in the industry across the country.

K.N. Adiyodi, president, All India Bank Officers' Confederation (AIBOC), Wayanad, presided over the meeting.

S. Pavithran, secretary and K. Hamza, treasurer also spoke on the occasion.

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