The Hindu : Bank branch closure: Jaswant assures action

Online edition of India's National Newspaper
Tuesday, Aug 13, 2002

National

National

Bank branch closure: Jaswant assures action

By Our Special Correspondent

NEW DELHI AUG. 12. The Union Finance Minister, Jaswant Singh, today assured a delegation of the All India Trade Union Congress (AITUC) and the All India Bank Employees Association (AIBEA) that the Government would take necessary action regarding the sudden closure of the Kolkata branch of Bank of Tokyo.

The delegation, led by the AITUC president, J. Chittarajan, MP, and AIBEA general secretary, Trakeshwar Chakravorty, told Mr. Singh that the management of the Bank of Tokyo-Mitsubishi had closed down the branch without seeking the permission of the Reserve Bank of India.

In a memorandum, the delegation, which included the CPI MP, V. V. Raghavan, alleged that the closure was against the industry-level collective settlement and the provisions of the Industrial Disputes Act. While transferring the accounts of its customers to Hongkong Shanghai Bank Corporation, the bank management has terminated the services of all its 67 employees.

The memorandum said that the bank management had not complied with the directions of the Regional Labour Commissioner to maintain status quo as on August 6, 2002.

Printer friendly page
Send this article to Friends by E-Mail

National