Foreign Bank Policy of RBI results on strike by bank unions on December 18
By Joseph Samson
Dec 11, 2013
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On December 18, the Union of the bank will challenge against the choice of the Reserve Bank to accord national treatment to foreign banks.

Ashwini Rana, the General Secretary of National Organization of Bank Workers had said the bank unions are restricting RBI's choice to give close national medication to foreign banks assuming that they set up a wholly-claimed subsidiary (WOS) in the nation. Guidelines were issued by the RBI last month, allowing WOS of international banks to obtain domestic sector's private banks and set up branches anyplace in the nation. It likewise permitted outside bank subsidiaries to record on nearby stock trades.

The unions, he said, likewise need quick usage of the pay amendment of bank workers which is expected from November 2012. Change in annuity conspires and other retirement profits are an alternate request of unions.

The National Organization of Bank Workers is one of the constituents of the United Forum of Bank Unions, which is an umbrella body of bank representatives union.

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