Latest News | Bank Officers' Unions Raise Concerns over Pressure on Loan Disbursement by UP Municipal Authorities

Mumbai, Mar 8 (PTI) Four bank officers' unions have raised concerns over unwarranted pressure and interference in banking activities, particularly related to the implementation of the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme, by municipal authorities in Uttar Pradesh.

In a letter addressed to Chief Minister Yogi Adityanath, the officers' unions said in some cases bank officials have been threatened with dire consequences including disruption of banking services and administrative actions too through filing of an FIR.

"It has been reported by our affiliates that at some places the functionaries of the municipal corporations are visiting bank branches and creating a bitter atmosphere of confrontation by their intervention in banking activities, particularly related to the implementation of the PMSVANidhi scheme," the unions wrote in a joint letter.

The letter is written by All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers' Congress (INBOC) and National Organisation Of Bank Officers (NOBO).

The unions said the highhanded behaviour of these municipal functionaries has created an atmosphere of terror which demoralizes and demotivates bank employees at every level in the state.

The bank officers' unions said nationalized banks are the medium through which the centre and State governments roll out different schemes and the implementation of these schemes and their performance are also reviewed and monitored by supervisors in the internal hierarchy of banks and by different government committees.

All banks are allowed autonomy to decide on the proposals received in a professional manner based on their merit, feasibility and economic viability, the unions wrote adding that any interference in the process can only vitiate the atmosphere and jeopardise the interests of all stakeholders.

The four bank officers' union said the matter needs immediate attention and requested the chief minister to issue peremptory instructions to the state administration to protect integrity, autonomy and peace at banking establishments throughout the state.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)