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All India Bank Employees Association to make names of 7,000 wilful defaulters public
Before the banking employees go on their announced strike, another major news seems to be ready to give tremors to the banking industry.

The All India Bank Employees Association (AIBEA) has announced that it is going to make public the names of 7,000 wilful defaulters, many of whom are from Gujarat. The association has said that it will make the names public on July 19.

"Bad loans are the biggest issue with the banks nowadays and public sector banks are the most affected. There are around 7,000 wilful defaulters. Their names will be announced on July 19," said CH Venkatachalam, general secretary, AIBEA, while addressing media persons in Ahmedabad.

According to Venkatachalam, these wilful defaulters owe a staggering Rs 70,000 crores to the banks.

"It is people's money and the public must know who has stolen their money," he added.

He said: "No serious action is being taken by the government and RBI to recover these huge bad loans. On the other hand, concessions are being given to them. Government must take criminal action against wilful defaulters."

The association has also given call for a one-day nation-wide strike on July 29. The strike is to protest against the merger of five associate banks with the State Bank of India and the privatization of IDBI Bank. As many as 10 lakh employees of public sector banks are expected to join the strike.

Talking about the strike, Venkatachalam blamed the government and said that rather than encouraging the public sector banks, the government is promoting private sector banks.

"Private banks are not working for interests of the people like public sector banks in India, they use the people's money for their own purpose," he added.

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