The rehabilitation package for farmers will be the top most priority of banks when the managing committee meeting of the Indian Banks’ Association (IBA) meet on February 15 in Mumbai.
A committee has already been formed by the government early this year under the leadership of former Nabard chairman and managing director, YSP Thorat. The committee will recommend various measures to revive the ailing sugar industry in the country. Talking to FE, chief executive officer of IBA, HN Sinor said that the government has recently announced a rehabilitation package for the ailing sugar industry and the bankers would be discussing the issue during the forthcoming managing committee’s meeting. Another significant issue that will be discussed at the IBA meet is to examine the demands of agitating bank unions seeking pension for retired employees and a ban on outsourcing of banking businesses. The unions, largely representing government banks, have called for a strike on February 25 if their demands were not met.
IBA has offered its services of a mediator in the proposed eighth bipartite meeting between the banks’ management and the stirring employees.
Setting up of national payment corporation for retail payments and financial education counselling fair practices code are some of the other issues that are on the agenda of the IBA meet. The committee will also dwell upon the issue of accounting disclosures.
