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Save Banks, Save Economy, Save People, Save Nation

To Madam Sumitra Mahajan, Hon. Speaker, Lok Sabha, Parliament House, New Delhi.

Respected Madam,

We, the people of India, wish to draw the attention of the Parliament and the Government to the present policies on banking sector and wish to submit and demand as under:

1. Public Sector Banks should be further strengthened and expanded. 2. Public Sector Banks should not be privatised. 3. Stop plans of mergers and consolidation of Banks 4. Do not write off Non-Performing Assets /Bad loans of corporate companies . 5. Wilful and deliberate default of bad loans should be defined as criminal offence. 6. Recovery laws should be suitably amended to enable quick recovery of bad loans 7. Stringent measures should be taken to recover the bad loans in Banks 8. Names of bank loan defaulters should be published once in 6 months 9. Implement recommendations of Parliamentary Committee on recovery of bad loans 10. Ensure accountability of Bank Executives for bad loans 11. Withdraw proposed FRDI Bill – Safeguard Depositors’ money 12. Do not pass on the burden of bad loans on customers by hiking charges 13. Adequate capital should be given by Government to all the Public Sector Banks 14. More and more Branches should be opened in unbanked rural areas. 15. Regular banking services should not be outsourced to private contractors 16. More loans should be given to agriculture sector with liberalised conditions 17. More loans should be given for employment generation projects 18. Rate of interest on Bank Deposits should be increased 19. Interest on Bank Deposits to be exempted from Income Tax 20. Profits of Co-operative Banks should be exempted from Income Tax 21. Co-operative Banks should be provided with adequate capital 22. Regional Rural Banks should not be handed over to private sector 23. Ensure adequate recruitment of clerks and substaff in Banks

We request you to take up these issues in the Parliament for discussion and to formulate pro-people banking policies that would save our economy, our people and our nation at large.

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