EMPLOYEE STOCK OPTION / SALE OF BANK SHARES TO EMPLOYEES:
As part of the policy of banking reforms aimed at dilution of the scope, content and ownership of public sector banks, many measures are being contemplated by the Government and the RBI. We have been fighting back all these attacks and efforts through consistent campaign and struggles. One of the measures has been to reduce the Government’s equity capital in the PSBs through IPO, further disinvestments by Follow-on Issue, QIP – Qualified Institutional Placement, FII/FDI, etc. For the first time, in the recent Budget, no funds have been allocated to capitalise our PSBs even though the Government has stated that huge capital will be needed by the Banks in the coming years. This is only to create conditions for further dilution of Government’s capital and to increase private capital in the PSBs.
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