The bad loans or Non – Performing Assets (NPA) of the Public Sector Banks are increasing year after year. It has reached gigantic proportions. The latest report says that it has crossed Rs. 2.36 lakh crore. Almost all the top corporate houses are defaulters of hundreds of crore of rupees. No serious action is being taken by the Banks to recover the same since the defaulters are influential.
But what about the ordinary people who have taken loans from the same banks. All pressures and threats are put to them to pay up.
This is what happens in India – the difference in class makes all differences!

The Finance Minister’s insistence on licence for New Banks
The Finance Minister P.Chidambaram has stated that the declaration of election will not have any obstruction in granting licences to new banks. He wants that new banks be given licence.
In fact, there is no need for new banks, with so many banks in the country. Two, the new banks will be mainly from the corporate houses who want their own banks, so that they manipulate them. Of course, grant of bank licence to India Post, there is no objection since it is already functioning with P.O.Savings Bank.

Homage to Com. N.P.Padmanabhan, outstanding leader of P and T Workers.
5th March is the death anniversary of Comrade N.P.Padmanabhan, the revolutionary leader of the P andT Workers. He passed away on this day in 1994 at Kannur, Kerala.
Com.Pappettan, as was called fondly by Kerala Comrades, was the Convener of the mighty P and T Co-ordinating Committee of Kerala, which organised many victorious struggles. He functioned as the Secretary of NFPTE at New Delhi also. He was dismissed in connection with the 1968 strike and was kept out, while all others were reinstated.
The P and T House, Trivandrum became the centre of service trade unions in Kerala, with Com. Pappettan’s presence there. Hundreds of young workers became active workers and leaders of the P and T movement on his guidance and leadership.
On his death anniversary my revoulutionary homage to Com. Pappettan!
Red Salute to Com. N.P.Padmanabhan!

As per call of Forum of BSNL Unions Associations, massive demonstrations were organised in Circle/SSAs all over the country. Reports are still coming.

Com.VAN Namboodiri, Convener Forum , Com. C.Singh, Chairman, Forum, com. Saibal Sengupta, AGS BSNLEU, Com. RS Chauhan Org. Secretary BSNLEU, Com. Arvind Dahya, AGS SNEA, N.L.Sharma, AGS AIBSNLEA, Com. R.K.Kohli, GS, NFTBE, Com.Hari Singh ASG BTU and other leaders addressed the demonstration in Corporate office, New Delhi. Despite short notice and also heavy rains, many comrades participated in the demonstration in front of the Corporate Office.
Today’s massive demonstration is a warning to the government not to take a hasty decision on merger of BSNL and MTNL without resolving the HR , Disinvestment and other issues pointed out by the Forum.

Hearty Congratulations to all comrades for the massive participation in the demonstration called at short notice.

As per a CAG report submitted in the Parliament, there are 2948.11  crore EPF deposits  unclaimed with the Employees Provident Fund Organisation (EPFO) as in 2011-12. The number was 332.14 crore in 2006-07. It has been increased ninefold by this time.

There may be many reasons for the unclaimed deposits. But the EPFO and the government have to find out why they are not claimed and what is to be done with the same.