Banks unions two day strikes against Privatization of PSBs
New Delhi: The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, on Tuesday gave a call for a two-day strike from March 15 to protest against the proposed privatization of two state-owned lenders.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, on Tuesday, gave a call for a two-day strike from March 15 to protest against the proposed privatization of two state-owned lenders. In the Union Budget presented last week, Finance Minister Nirmala Sitharaman announced the privatization of two Public Sector Banks (PSBs)as part of its disinvestment plan.
The government has already privatized IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years. It has been decided to oppose the government’s decision to privatize banks during the meeting of UFBU held on Tuesday, All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam said.
“The meeting discussed the various announcements made in the budget of the central government regarding reform measures like privatization of IDBI Bank and two PSBs, setting up of the bad bank, disinvestment in LIC, privatization of one general insurance company, allowing FDI in insurance sector up to 74 percent, aggressive disinvestment and sale of public sector undertakings, etc,” he said.
The meeting observed that all these measures are retrograde and hence need to be opposed, he added. After deliberations, it was decided to give the call for a two-day — March 15 and March 16 — strike against the government’s moves, AIBOC general secretary Soumya Datta said.
Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), and Bank Employees Confederation of India (BEFI).
Others are the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW), and National Organisation of Bank Officers (NOBO). (PTI)
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