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If foreign exchange reserves are not stopped, then India’s situation may be like Sri Lanka, AIBEA expressed concern

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AIBEA: Expressing concern over India’s dwindling foreign exchange reserves, a top All India Bank Employees Association (AIBEA) official on Thursday claimed that if the problem continues to be ignored, then the country will face a severe economic crisis like neighboring Sri Lanka. may have to. AIBEA general secretary CH Venkatachalam said after the meeting of the organization’s central committee in Indore, “The country’s foreign exchange reserves are getting depleted due to wrong economic policies of the government. Our imports are increasing continuously while exports are decreasing.

Venkatachalam said, “If we continue to ignore the problem of depletion of foreign exchange reserves, then the day is not far when we may have to face a bad economic situation like Sri Lanka.” To check the decline in the economy, it is first necessary that the government should help the troubled sector of micro, small and medium enterprises (MSMEs) so that the dependence on imports can be reduced and exports can be accelerated.

Protests against privatization of public sector banks

AIBEA general secretary protested the government’s ‘deliberations’ for privatization of public sector banks and said, “If public sector banks are privatized, not only the savings of the public may come in danger, but also the savings of the villagers, farmers, MSMEs.” Entrepreneurs and women of the sector will also face a lot of trouble in taking loans.” He said that the government may introduce a bill in the upcoming winter session of Parliament to ease the way for privatization of public sector banks.

If this is done then we will strike

Venkatachalam warned that if such a bill was introduced, AIBEA, representing employees of public, private, cooperative and other sector banks, would immediately go on strike. He also said that state-run banks are facing severe shortage of workforce and AIBEA will be forced to go on strike if this shortfall is not rectified soon by recruiting in sufficient numbers.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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