AIBEA demands Govt action to fill 1 lakh bank vacancies, Criticizes rising service charges and corporate loan write-offs

AIBEA demands Govt action to fill 1 lakh bank vacancies, Criticizes rising service charges and corporate loan write-offs

Mangalore Today News Network

Mangaluru, October 13, 2024: C.H. Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), called on the central government to address the shortage of over 1 lakh vacancies in banks across the country.

Speaking to the media, he stated that 75,000 to 80,000 vacancies are in nationalized banks, with the rest in private banks.

“We are demanding adequate staff recruitment in banks to ensure efficient service to the public. In recent years, recruitment has slowed significantly, especially for subordinate positions, which have stopped entirely. This shortage of staff is hampering the quality of customer service,” Venkatachalam said.

He criticized the banks for outsourcing permanent roles on a temporary or contract basis instead of filling these vacancies, stating, "AIBEA will launch a nationwide agitation, including strikes, to demand the recruitment of staff to fill all vacant positions."

Venkatachalam also addressed rising bank service charges, noting that services that were once free have become costly, affecting the poor. He linked this increase to declining corporate loan recoveries, which have hurt bank revenues. As a result, banks have raised service fees.

He urged banks to focus on recovering bad loans and stopping concessions to defaulters. Non-performing assets (NPAs) have risen, with a significant portion of defaults attributed to large private corporations. “While banks adopt strict measures to recover small loans from ordinary citizens, big corporate defaulters are given lenient treatment, and many corporate loans are written off," he alleged.

He further pointed out that nearly ₹4 lakh crore in corporate loans remain unpaid. "Banks are suffering losses due to these write-offs. We demand that the government publish a list of loan defaulters and take action to recover these amounts."

During the 60th anniversary of the All India Karnataka Bank Employees Association, Venkatachalam praised the union’s contributions over the years in securing employee benefits and improving bank performance. He also honored former General Secretary P.R. Karanth, who served in the role for 50 years.