Staff Reporter

Demanding protection for social banking practices, security schemes

KOCHI: The United Forum of Bank Unions will hold a nation-wide strike on October 27 demanding protection for social banking practices and security schemes.

The forum has urged the Union Government to scrap the policies of outsourcing of basic banking services and clearing operations and withdrawal of bank merger moves and dilution of voting rights. It has sought recruitment in various banks, universalisation of the pension scheme, compassionate appointments, and protection of trade union rights.

State convener of the forum V.J. Johny said here on Friday that employees and officers in commercial banks would participate in the strike.

He said the Reserve Bank of India had issued a circular permitting banks to outsource all normal banking services to private agencies on commission and contract basis. The outsourcing works include opening of bank accounts, withdrawal of cash, deposit of cash, issuance of drafts, and sanction and disbursement of loans.

Mr. Johny said that outsourcing would affect the jobs of bank employees and endanger the secrecy and security of customer transactions.