PSU bank employees' strike on Dec 20

Addressing a press conference here, R A Singh, president of Jharkhand Pradesh Bank Employees Association, said the reform in the banking sector was not in the interest of the country.

The government was trying pass the Bill to enable easy merger of banks, increased voting rights to private capital in both public and private sector banks, Singh said.

Referring to a bill introduced in the current session of Parliament to amend Sarfaesi Act/Debt Recovery Act, he said the move was aimed at helping corporate loan defaulters by converting bad loans as investments in the equity capital of these defaulters companies, which was not acceptable.