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Bank unions call for two-day strike. Check details

​The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike in March against the proposed privatization of two-state owned lenders. According to the UFBU, the two-day strike will begin on March 15.   

India TV Business Desk India TV Business Desk
New Delhi Published on: February 09, 2021 16:19 IST
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Image Source : PTI

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The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike in March against the proposed privatization of two-state owned lenders. According to the UFBU, the two-day strike will begin on March 15. 

Presenting the Union Budget last week, Union Finance Minister Nirmala Sitharaman had 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. 

During a meeting of the UFBU on Tuesday, All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam said it has been decided to oppose the government's decision to privatize banks. 

"The meeting discussed the various announcements made in the budget of the central government regarding reform measures like privatisation of IDBI Bank and two PSBs, setting up of bad bank, disinvestment in LIC, privatisation of one general insurance company, allowing FDI in insurance sector up to 74 per cent, 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 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). (With PTI inputs)

READ MORE: Govt to work with RBI for execution of bank privatisation plan: Nirmala Sitharaman

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