Chidambaram terms bank strike unnecessary

Chidambaram terms bank strike unnecessary

Sivaganga (Tamil Nadu): Finance Minister P Chidambaram has termed the proposed nation-wide strike by bank employees on 24 September as ‘unnecessary´ and said the Centre was ready to hold talks with bank unions.

“The strike is not necessary. The government is ready to hold talks with bank unions," he said after inaugurating a Bank of India branch on Sunday night.

Referring to the collapse of some financial institutions in the US, he said banks in India were insulated from the crisis and their financial position was quite strong.

On education loans, Chidambaram said a total of 12.51 lakh students had received 20,000 crore loans as of 31 March this year.

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