Bank employees doing recoveries require government protection, IBA says; association urges amendment in existing laws

While the bank employess have been at the forefront since the outbreak of the Coronavirus pandemic since March 2020 and serving customers amid all the risks, instances of foul behaviour and even manhandling of the employees were seen from customers.  

With regards to this, Indian Bank Association (IBA) has urged the Central Government to amend the existing rules to ensure securty of the bank employees.

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IBA’s Chief Executive Officer (CEO) Sunil Mehta said that the recovery done by the bankers is public money and the money recovered by banks is utilised to pay interests and loan to customers. This is why IBA has been raising this issue and urging the government to make amendments in the law.

This law is Bankers Protection Act: why this is necessary?

- Bank employees work under a lot of risks.
- Demand before the government to ensure security of the bank employees.
- The bank official run a risk of locals manhandling them and this makes it necessary for them to have a security cover.
- The bank officials are only fulfilling their duties.
- The recovery done by bankers is public money.
- If bank does not recover money from people how will it pay interests and offer loans.
- The banks and employees who are responsible for recoveries must get adequate protection.
- It will be detrimental to banks and economy if recoveries are not made.
- It also urges change in the framework of vigilence.
- IBA is raising its demand for change in the laws.