Morning Tidings

Tag: Bank strike

Bank strike: ATM drought on second day

Public sector banks (PSB) ATMs displayed boards ‘not working’ and ‘under maintenance’ as the machines apparently ran out of cash as the strike by PSB employees continued for the second day on Tuesday.

Although bank unions have called for a two-day strike on Monday and Tuesday, bank holidays occurring two days earlier on the second Saturday and Sunday had a double effect on cash flow. Bank employees staged a sit-in outside the UCO Bank branch in Dwarka Nagar against the central government’s decision to privatize PSBs.

Addressing a large gathering of bank employees and officials, CPI state assistant secretary JV Satyanarayana Murthy said that this movement should be transformed into a people’s movement inspired by the farmers’ movement in Delhi. He said that banks should be continued under government management for the benefit of the common man. He said that instead of privatizing PSBs, the government should implement stringent laws for recovery of corporate bad debts.

Union leaders Mangapati, PRN Prasad, RV Ravi Kumar, V. Srinivasa Rao, v. Ramesh, prince, r. Vasant Rao, a. Srinivasa Rao, p. Iswar Rao, Usha Rani, Prasanna Lakshmi, Sujata and Paydi Raju participated.

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March 17, 2021
Bank branches are expected to see more decline today

Public sector bank branches are expected to get even more benefits after the two-day strike against privatization of banks opened on Wednesday, which was attended by thousands of employees.

It appears imminent, but it will not be difficult to manage as banks usually have more customers visiting branches for transactions during the first week, bankers’ sources said. But with branches opening after four days – a second Saturday, Sunday and a two-day strike – the number of customers, especially in rural areas, is more likely to demand access to various services.

On Tuesday, the second day of the nationwide strike called by the United Forum of Bank Unions, the impact on operations was less possible as branches of public sector, old generation private and regional rural banks remained closed.

UFBU convenor for Telangana R. SBI sources said that while there are a number of employees participating, the number of workers was less.

According to Mr. Sriram, the UFBU, which includes nine unions of bank employees and officials, will wait for some time and plan further protest programs in the event the government continues with its proposal to privatize the two banks.

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March 16, 2021
Bank Strike: Privatization of Center, Nationalization of Losses, Rahul Gandhi Says

Expressing solidarity with the protesting bank employees who were on a two-day strike against the alleged privatization of public sector banks, Congress leader Rahul Gandhi on Tuesday alleged that selling public sector banks in “cronies” compromises the country’s financial security. Will do.

He also accused the government of “privatizing profits” and “nationalizing losses”. “The Government of India (GOI) is privatizing profits and nationalizing losses.” Selling PSBs to Modicronies severely compromises India’s financial security, ”Mr. Gandhi tweeted.

“I stand in solidarity with the striking bank employees,” he said on Twitter.

The bank’s strike, led by nine unions of public sector banks (PSBs) in the country, continued for day-two on Tuesday.

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March 16, 2021
Bank employees go on strike against privatization

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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Your support for our journalism is invaluable. It is an endorsement of truth and fairness in journalism. It has helped us to be inspired by events and happenings.

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March 15, 2021
Privatization: Bank employees plan for March 15-16

The All India Bank Employees Union (AIBEA) has decided to go ahead with a two-day nationwide strike on March 15 and 16 against the plan for privatization of two public sector banks (PSBs). AIBEA stated that the government and the union failed to reach common ground in consent meetings.

AIBEA Secretary General CH Venkatachalam said, “There were reconciliation meetings between the government and the representatives of the unions on 4, 9 and 10 March”. “We were ready for reconsideration … if the government agreed to postpone its decision to privatize the two PSUs,” he said.

“The representative of the Ministry of Finance cannot make any such commitment. We are opposing privatization in the public interest and have decided to pursue the strike. According to him, more than 10 lakh employees including officers and managers of various banks will participate in the strike.

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Your support for our journalism is invaluable. It is an endorsement of truth and fairness in journalism. It has helped us be inspired by events and happenings.

Morning Tidings has always stood for journalism that is in the public interest. In this difficult time, it becomes even more important that we have access to information that impacts our health and well-being, our lives and livelihoods. As a customer, you are not only the beneficiary of our work, but also its promoter.

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March 11, 2021