NEWS & ADVICE : HOME LOANS
Strike announced by 86,000 commercial &1 lakh co-op banks
By Joseph Samson
Mar 14, 2011
Print    Email    RSS   

The concessions offered to private sector lenders in operation processes in the budget session recently has angered the other sects of bankers. In response to their discontent, around 86,000 commercial and 1 lakh cooperative banks have decided to go on a strike in the next parliamentary session, said a senior official of the All India Banking Employees Association (AIBEA).

According to AIBEA General Secretary C H Venkatachalam, outstanding loans of banks still amount to more than Rs 65000 crore. This he said would lead to bad debts and be written off thus being a causal for heavy losses incurred by banks.

Since the loans were paid from deposits as well as savings made by public in banks, so such a case would also lead to problems to banks in returning savings as well as interests to customers, said Venkatachalam.

According to him, steps should be taken by government in funding non functional banking units as well as offer tax relief to cooperative banks.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
An insight into the era of teaser loans
Know your home loan better
How to go about ‘Leveraged Investing’
Income Tax Benefits on Joint Home Loans
Bank loans that could glitter for you


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive