Bank Strike: According to UFBU, the two-day strike will start from 15 March. Finance Minister Nirmala Sitharaman in her budget speech last week announced the privatization of two public sector banks under the disinvestment program.
The United Forum of Bank Unions (UFBU), the apex body of nine organizations of bank employees, has called for a two-day strike in March to protest against the proposed privatization of two public sector banks. According to the UFBU, the two-day strike will begin on March 15. Finance Minister Nirmala Sitharaman in her budget speech last week announced the privatization of two public sector banks under the disinvestment program.
The government has already privatized it by selling its majority stake in IDBI Bank (IDBI Bank) to Life Insurance Corporation of India (LIC) in 2019. Also, 14 public sector banks have been merged in the last four years. All India Bank Employees Association (AIBEA) General Secretary CH Venkatachalam said that in a meeting of UFBU on Tuesday, it was decided to oppose the government’s decision to privatize banks.
He said, in the meeting, various announcements made regarding reforms in the Union Government’s budget were discussed. This included the privatization of IDBI Bank and two public sector banks, the establishment of a bad bank, disinvestment in LIC, privatization of a general insurance company, approval of up to 74 per cent foreign direct investment (FDI) in the insurance sector and stake in public sector undertakings Sales etc.
Two-day strike on 15 March and 16 March
According to Venkatachalam, it was said in the meeting that these measures are counter-productive and against the interests of the employees. That is why there is a need to oppose it. AIBOC general secretary Soumya Dutta said that after deliberations, it was decided to call a two-day strike on March 15 and 16 against the decision of the government.
These are the members of UFBU
UFBU members 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). .
Also included are the Indian National Bank Employees Federation (INBEF), the Indian National Bank Officers Congress (INBOC), the National Organization of Bank Workers (NOBW) and the National Organization of Bank Officers (NOBO).
