National Banking Literacy Campaign to commence at Thrissur

Thursday, Jul 2, 2015,21:07 IST By metrovaartha A A A

New Delhi | National banking literacy campaign will be launched at Thrissur in Kerala on July 5. It forms part of the year-long activities to connote and commemorate the 70th year of All India Bank Employees’ Association (AIBEA).
AIBEA General Secretary Ch.Venkatachalam said that preceding its last national conference, held in Kochi in February, 2013, a State-level Banking Literacy Programme was undertaken and the response was quite encouraging and rewarding.
Hence, Mr Venkatachalam said,” We felt that we should undertake such programme at the national level in all the states.”
Mr Venkatachalam asserted that AIBEA  had campaigned and fought for nationalisation of banks which became a watershed event in the politico-economic annals of the nation.
With this significant change to public ownership of major banks, the profile of banking has greatly undergone a change. Bank branches have proliferated in the rural and village areas.  Precious savings of the common masses have been augmented by the Banks and neglected sector became priority sector for lending loans. The face of banking has been vastly changing from class banking to mass banking, he said.
The AIBEA General Secretary said the growth and contribution of public sector banks in the last of more than four decades have been phenomenal and impressive, and can be credited as a world record.
”Yet a lot remains to be done to fully accomplish the basic objectives of nationalisation of banks. Bank branches are yet to reach thousands of villages even today. Half of the population has still no access to banking services.  Hardly 15 per cent of the people have been able to avail of loans from the banks, he said  adding that there are many schemes and services that are beneficial to the masses but are not being availed of by them due to lack of knowledge.s and services.
In AIBEA, Mr Venkatachalam said,” We feel that while fighting for defence of public sector banks and against all attempts of privatisation are tasks of utmost importance, it is equally necessary that we make the common people aware of the various schemes which can benefit them.
”As those who championed the cause of bank nationalisation, it is our duty that vast masses become aware of the benefits of the schemes of public sector banks.
”Similarly, we must also make the common people aware how the hard-earned savings of the people available in the Banks are being cornered by the corporates and business houses, how the depositors money is being misused and abused by various companies by not repaying the loans borrowed by them.
”We can make the people understand how public money is being looted in daylight robbery and how such a loot is being hidden in the name of Non-Performing Assets.  We should explain to the masses how the Government is trying to protect the defaulters by giving concessions, write-offs, restructuring, etc.  We must tell the people why the Government is not taking any stringent measures to recover the huge bad loans,” Mr Venkatachalam said.
He said,” Peoples money is for welfare of the public, not for private corporate loot, Nations savings for national development, not for corporate delinquents.Take effective steps to recover the huge bad loans, amend the law to take criminal action on wilful defaulters and Banking for all – Make banking a fundamental right
Mr Venkatachalam said the AIBEA is proud that it had been consistently campaigning against Governments agenda of banking sector reforms and privatisation of banks and  stoutly defending public sector banking.