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The United Forum of Bank Unions (UFBU), an umbrella physique of 9 unions, has given a name for a two-day strike in March towards the proposed privatization of two-state owned lenders. According to the UFBU, the two-day strike will start on March 15.
Presenting the Union Budget final week, Union Finance Minister Nirmala Sitharaman had introduced the privatization of two Public Sector Banks (PSBs) as a part of its disinvestment plan. The authorities has already privatized IDBI Bank by promoting its majority stake within the lender to LIC in 2019 and merged 14 public sector banks within the final 4 years.
During a gathering of the UFBU on Tuesday, All India Bank Employees Association (AIBEA) normal secretary C H Venkatachalam stated it has been determined to oppose the federal government’s choice to denationalise 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 stated.
The assembly noticed that each one these measures are retrograde and therefore should be opposed, he added.
After deliberations, it was determined to present the decision for a two-day — March 15 and March 16 — strike towards the federal government’s strikes, AIBOC normal secretary Soumya Datta stated.
Members of UFBU embrace 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 financial institution privatisation plan: Nirmala Sitharaman
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