Members of the All India Nationalized Bank Officers Federation demonstrated at the Canara Bank Circle office in the city on Monday as part of a nationwide two-day strike to protest the Union government’s budget proposal for privatization of two state-owned banks.
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About 250 members participated in the demonstration. Mahasangh general secretary GV Manimran urged the participants to create awareness among customers about the dangers of privatization.
Pointing to the benefits of nationalization, he said that deposits of banks have increased manifold in the last five decades. Public sector banks still earn more than 70% of the market share in the banking system.
Some of the federation’s demands include medical insurance for retired employees with serving employees, allocation of employee welfare funds on the basis of benefits to probationary officers as payment by the State Bank of India, and additional increments.
Apart from updating the pension for retired employees as per the Reserve Bank of India formula, it also wanted reimbursement of hospitalization expenses to officials of all banks in line with SBI.
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