AN APPEAL
Dear friends
After several days of studies and research, collating relevant information, , united in spontaneous emotions against ill-advised banking reforms, guided at the best by vague optimism, dissipating lack of perspective and constant lulls of despair, I ventured to write this series merger mania . I am glad to inform you that this series is coming to an end with this article merger mania VIII.
Given the democratic polity that we have in India we need to educate our public mind on vital issues to enable them to make right choices at all levels. No democracy can afford an ignorant public mind. An ignorant public mind is more dangerous than an invading army. The true defence of democracy is informed public opinion. Our people should be educated on issues of consequences. As they hold the sovereignty and elect their representatives who shape their course of their destiny, awareness about vital issues of socioeconomic life of the nation is indispensable. Rightly said, attitudes are more important than facts. Lincoln was right when he said that nothing could succeed without public support and nothing could fail with it. Indian economy’s midnight hour is here. India is rediscovering herself under a new economic paradigm. This has brought us all under a massive socio-economic transition that is essentially painful.
We, the nation, must understand and oppose it with all our forces in command this rather wrenching phase of transition of banking reforms to tame its ill effects. The issues are essentially confusing and common people simply do not understand them. Companies in hundreds are getting closed down, many companies are being privatized. This is causing loss of employment. We all hear the talk of ‘Job less growth’, ‘Labour displacing growth’, etc. The air is replete with terms like ‘new Economy, Global Recession, Stagflation, demand pull recession, etc.’
That is why people must understand the vital issues of ill advised banking and their possible consequences. This understanding must go beyond short-term benefits. In fact, ours is a democracy of the illiterates. Very few seem to be discussing critical issues facing the nation. Most of the time our politics is misfocussed or trapped in non-issues. This is lethal for the future of the country.
Sadly, our media too is not paying required attention to educate our public mind against the mendacious designs of these banking reforms which is affecting the common man- aam admi. There is definite need to go beyond reporting. Given the massive, pervasive illiteracy there is an urgent need to educate our public mind under an all-out effort on war footing.
Nothing is more powerful than an informed public mind able to take quick decisions of consequences. The aped , failed theories, medicines prescribed by IMF and the west repeatedly aped as banking and installing class banking to suit a few privileged corporate cliques by the successive government giving a go bye to mass banking must be demystified, exposed and should made easy for the common man to understand it side effects and put to use. At last, everything boils down to economics.
Even those who invest their hard earned money in public sector banks for safety and security also do not understand evil machinations of these ant-people banking reforms. . So there is imperative need to take up upon these issues to educate the public mind and explain vital concepts against peoples interests of the so called banking reforms beyond jargon to people. In this regard NUBE strived to make some humble, modest attempt in bringing to quip scorers of readers, public mind to understand many issues and demands beyond bank portals, unions charters & borders touching the chord of civil society, trade union/social activists, students, journalists and the public alike.
That is why one again NUBE has taken up upon itself to educate the public mind and explain this time the issue of consolidation of banks to people. In the coming years NUBE will be coming out with focused books, special papers, etc. by organizing seminars and workshops to rally support of the wider sections of the society in opposition to consolidation of public sector banks in the it nests of the people.
This merger mania series is for all. The objectives of this series is to enable people to understand important concepts in economics, banking, jargons of consolidation , etc. and to get insightful understanding of changing economic environment and impact of Liberalisation, globalisation, privatization on our lives.
In this venture of ours we are Grateful to all the personalities, for their contributions and to all friends of the people known and unknown who have been responsible for the success of this edition; who have not claimed ‘intellectual property rights’ whose noble objective is to reach information to more and more people.
Bank unions alone cannot fight these unwarranted economic & banking reforms. But People can, and must, for own sake , for economic activity is made in political terms people and people alone are the motive forces in halting , reversing needless banking reforms hurried in a breakneck speed by the successive governments .
But sadly while sincere efforts were made mail this merger series to most of the unions in the Indian banking industry from the email contact address displayed in their respective website , none have cared to even acknowledge, leave offer their comments or upload in their site. But nevertheless we still continue nurture the conviction that ‘none of us is above all of us’.
Viewed in this context and trends NUBE expresses its eternal gratitude to
for uploading this series and giving the coverage, recognizing the importance of the issue with no axe to grind. They have published these articles without excepting any favour except warmth of the love for the bank employees movement. They have placed us in their debt permanently. These sites having been doing splendid job in orchestrating the aspirations and hopes of average bank employees, calling spade a spade, with the symphony of their rhythms matching the expectations of the ordinary banker, in the process kindling vibrant, alternate space for them to voice their opinions without fear or favour . I have no qualms of compunction in admitting in any forum that these noble, pro- bank employee sites have emerged as the crusader to many average bankers as could be seen from the number theirviews/reads in their respective sites that they can be called as ‘average bankers news laundry’. Whether we are exalted are decried for making this statement in public domain we don’t bother. we answer to the call of our conscience .
While writing this series , I am appalled to note that many project reports of graduation courses and business schools on consolidation are mostly cut paste predetermined documents advocating consolidations as the panacea for be all end all for evils plaguing the banking industry in India .Many of them will become prospective banker taking into account the massive retirements in another four year time in the banking industry in India . With their focus skewed in favour of consolidations in their project reports, will they support anti consolidation campaign of ours is the lurking fear we nurse? If these articles changes their mind set and ignites their imaginations to think alternates from the fixity of dogmas and views in our educational curriculum and they present in future articles, reports embracing truth and ground realities ,and the new recruits grasp the politics of mergers ,we can draw satisfaction that we have together made a new beginning in reengineering of mindsets of graduate and business schools students, which will go a long way in strengthening bank employee’s movement .
We have made some humble attempt in bringing out this series to quip bankers, public mind to understand the consequences of consolidations of public sector banks. I trust this series will touch the chord of trade union activists, students, journalists, civil society activists,, and other wider sections of the society and the public alike and invoke their support, retaining the identity nationalized banks in the interest of people of our great nation.
The genesis of these articles merger mania 1 to 8 lay in the long felt need for compilation containing an authentic and updated materials drawn from various resourceful materials on this crucial issue . . I do not claim any originality. There may be some gaps in between. But, nevertheless, I had tried to cover many dimensions and definitions in globalisation, banking and economic basic literacy jargons.
Any part of this book may be freely reproduced in any form by any organization. But we would appreciate the copy of material is sent to our office with comments for furthering our knowledge. In preparing these documents I had infringed on the intellectual property rights of several individuals and also various resourceful documents, books in good faith with the hope that authors of these documents oppose patenting of intellectual property rights and they oppose IMF, WTO dictates. We term IPR as RIP – (Restriction on Intellectual Progress). We hold the conviction that right to information is directly linked with bringing truth to light. Information is power and documented information is democracy.
We intent coming out with a book against consolidations of consolidating yours valuable suggestions and feedback. We shall be highly obliged if some of you can help us with cartoons depicting the kernel essence of each serial. It is with this objective we have requested the sites to upload these articles in public domain. Kindly help us with your feedback comments to the above mentioned sites or to presidentnube@gmail.com.
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Unity- Struggle - Unity is the lessons we have learnt. Unity and solidarity is the raison d’être for survival of unions in the banks in wake of the mendacious merger moves of the Government.
Defend Public Sector Banks!
Deflate Consolidation Myths!
Defeat Consolidation among Public Sector Banks!
Consolidate unity!
Unity- Struggle – Unity-Victory
Thank you
S.SRINIVASAN
PRESIDENT
NATIONAL UNION OF BANK EMPLOYEES
attached : merger mania 8 & merger mania 1 to 8 zip file
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