Bank unions name for two-day strike towards proposed privatisation of PSBs

The United Forum of Bank Unions (UFBU), an umbrella physique of 9 unions, on Tuesday gave a name for a two-day strike from March 15 to protest towards the proposed privatisation of two state-owned lenders.
In the Union Budget offered final week, Finance Minister Nirmala Sitharaman introduced the privatisation of two Public Sector Banks (PSBs) as a part of its disinvestment plan.
The authorities has already privatised 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.

It has been determined to oppose the federal government’s choice to privatise banks in the course of the assembly of UFBU held on Tuesday, All India Bank Employees Association (AIBEA) common secretary C H Venkatachalam mentioned.
“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 mentioned.
The assembly noticed that each one these measures are retrograde and therefore have to be opposed, he added.
After deliberations, it was determined to offer the decision for a two-day — March 15 and March 16 — strike towards the federal government’s strikes, AIBOC common secretary Soumya Datta mentioned.
Members of UFBU embody 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).