AIBEA has given a call for all bank employees to observe strike on September 2 , 2015 to protest against proposed modification / amendments in labour laws to the detriment of bank employees and to favour employers.
AIBEA has further requested Government to declare Loan to Kingfisher as wilful default so that bankers can recover the money from defaulter like Vijya Mallya. This makes it clear that despite several efforts made by many banks, bank officials failed to convince the borrower and the court that the default is wilful. Not only Vijya Malya, there are hundreds of such big defaulters , who are not repaying the dues to banks despite the fact that they have capacity to repay in time, but bankers are unable to consider the default as wilful default.
It is just enough to prove that not only bankers have acted with negligence in lending to high profile borrowers in greed of some favour and some material gain but also Indian laws and Rules framed by RBI are proved to be ridiculous and ineffective. It is painful that banks are needed to prove the default as wilful to recover the loan given to a borrower. After all, default is default. Courts and tribunals are unable to decide bank cases filed against defaulters in years and decades. It is Himalayan task for bankers to prove in court that they have given loan to defaulter, that documents are genuinely executed by defaulters only and that amount of default is correctly calculated.
Government of India do not hesitate in building pressure on banks to lend money to big infrastructure project, big corporate, high value business houses, Power generating companies or power distributing companies or even to farmers, small traders and small industrialists.
But when it is the issue of recovery of overdues from defaulters, Government of India do not extend any support to bank officials , rather bank officers are advised to be tactful and effective. When default occurs, blame is pointed towards nature, or global situation or domestic economic slowdown.
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