ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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From 50 Years Ago: Banks’ Maginot Line

Vol III, No 34 August 24, 1968

Banks’ Maginot Line

In the present set-up of industrial relations in which employers and employees seldom confront each other directly across the table, demonstrations have become the mass modern version of the ancient dharna. This is a fairly general situation, not confined to banks. The remedy for it has also to be general and not restricted to banks as section 36AD of the Banking Laws Amendment Bill seeks to do. …

The Bill as amended prohibits any person (not just the workmen) from obstructing the movement of people into and out of banks, from holding violent or noisy demonstrations in banks and acting in any manner calculated to undermine the confidence of depositors. The first two provisions are superfluous; the third is amusing. Did Palai and Laxmi, the only two medium-sized hanks to fail in recent years and that too about seven or eight years back, collapse because of agitation by bank employees, or, as government and the Reserve Bank asserted at one time, because of deficiencies in their management? …

Bank managements and their supporters in government probably think that section 36AD would build a Maginot Line against demonstrations. They have not learnt from history.

Updated On : 24th Aug, 2018

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