Bank unions call off March 15 strike plan
VADODARA: The United Forum of Bank Emplyees Unions (UFBU) today said they withdrew the nationwide strike call on March 15, citing the present situation in the banking system following the massive fraud at Punjab National Bankand the overall vitiated atmosphere in the sector.
The statement furtehr said the forum is seriously concerned over the manner in which a mega fraud has taken place at PNB and the way banks stand exposed to such unthinkable risks.
The forum also quetioned the efficacy of the bank’s monetoring system saying, “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 PNB officials.”
They also demanded the ascertain the role of the Reserve Bank’s monetoring system saying “equally, one cannot absolve RBI for its failure to play its role and responsibilities which would have otherwise unearthed these irregularities much earlier,” the statement said.