Public sector bank employees, under the banner of the United Forum of Bank Unions, on Monday protested against the government’s plan to privatize public sector banks, an umbrella organization of nine trade unions.
In a statement, the All India Bank Employees Association said that about 10 lakh employees, officers and managers started a two-day strike on Monday. “As per the decision announced in the budget, apart from IDBI Bank, two public sector banks will be privatized, the UFBU has called for a two-day agitation and strike on March 15 and 16,” the statement said. “Negotiations with the government had failed.
The union said privatization of banks would result in loss of employment. “The government says that some public sector banks are in loss and hence it can no longer take care of them. The fact is that all public sector banks are making operating profits. Some banks are in net loss due to the provision of bad loans. Therefore, the priority is to take strict action on the defaulters.
Meanwhile, a joint forum of 10 central trade unions also observed Monday as “anti-privatization day”, a statement said.
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