Kerala

Stir by bank employees from Mar. 15

The United Forum of Bank Unions, an umbrella organisation of nine forums, is gearing up for the two-day nationwide strike from March 15 against the proposed privatisation of public sector banks.

To drum support for the stir, bank employees and officers in the State will report for duty on March 8 and 12 wearing protest masks.

Rallies have been organised in the districts and towns on March 12 demanding scrapping of the move to privatise two public sector banks (PSB) announced in the Union Budget.

Around 10 lakh employees owing allegiance to the AIBEA, NCBE, AIBOC, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO will be participating in the strike, according to C.D. Josson, State convenor. General Insurance employees have decided to go on strike on March 17 and LIC employees on March 18 against privatisation and decision to sell equities respectively.

Instead of strengthening public sector banking, the present policies are aimed at weakening PSBs, by starving them of the required capital, human resources, through disinvestment and proposed privatisation.

In the garb of efficiency, and misconceived policy to shrug off the responsibility, the government has embarked upon privatisation of PSBs, the forum of unions has said.

Failed argument

Around the world, innumerable private banks have failed. It is a myth to believe that only “privates” are efficient. If private enterprises are epitome of efficiency, there should not have been any NPAs from large private corporate entities at all, the forum says.

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Printable version | Apr 18, 2021 11:18:00 PM | https://www.thehindu.com/news/national/kerala/stir-by-bank-employees-from-mar-15/article34014788.ece

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