As part of the proposed All India bank strike on Thursday, members of the Krishna District Bank Employees’ Co-ordination Committee will join the strike, registering their protest against the Banking Law Amendment Bill 2011 which is placed in Parliament.

In a statement, committee’s secretary K. S. Rao, said nearly 7 lakh bank employees and officers were expected to participate in the proposed strike jointly called by the All-India Bank Employees’ Association (AIBEA), the Bank Employees’ Federation of India and officers’ unions such as the All India Bank Officers’ Association.

He said the proposed amendments to the banking law were aimed at effecting a merger of banks, allowing more private and foreign capital in banks, and upping the ceiling on voting rights. Further, the amendments will enable the central bank to grant licenses to corporate business houses to start their new banks.

He said members must defeat the Bill in Parliament which was aimed at handing over Indian private sector banking to multi-national banks and increasing the presence of Indian corporates and FDI in public sector banks.

The unions’ main demands include removal of Clause 3 from Banking Regulation Act and cancellation of the proposed amendment that aims at increasing voting rights in public sector banks from 1 to 10 per cent

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