Thaindian News

Mumbai, Nov 4 (IANS) At least 29 people were detained Friday as they gathered on Dalal Street - where the country’s premier bourse, the Bombay Stock Exchange is located - as part of the “Occupy Dalal Street Movement”, police said.

“We detained 29 people, including one woman, under Section 144 (joining unlawful assembly). They were released later,” a police official said.

Over 2,000 bank employees protested the policies of the government and the Reserve Bank of India on the street where the stock market is located in south Mumbai. General public also joined in the protest.

Author and Mahatma Gandhi’s great-grandson Tushar Gandhi and Communist Party of India-Marxist leader Prakash Reddy also joined the stir. Reddy was among those detained.

“The policy represented by Dalal Street is identical to the policies followed at the Wall Street. We, the bank employees, are continuously waging war against liberalisation of Indian economy and the privatisation policy of the government of India in the banking sector,” said Vishwas Utagi, General Secretary of All India Bank Employees Association (AIBEA), who was also arrested.

Utagi said that through “Occupy Dalal Street Movement”, they wanted to convey that issuing of new licences to corporate houses for opening new private banks will not be tolerated.

“We are also fighting against the growing wilful loan defaulters who are responsible for huge non-performing assets to the tune of three lakh crores of rupees in the banking industry,” he added.

Utagi said that the economic policies followed by the United Progressive Alliance-II government under are creating huge economic disparities in our economy. “Government’s economic policies are for ’super rich corporates’ and are against the interest of ‘aam aadmi (common man)’,” he said.