In the budget tabled last month, Finance Minister Nirmala Sitharaman announced that two public sector banks would be privatized under the federal government’s delisting scheme. Public sector bank employees and officials have opposed the federal government’s move. The Federation of Bank Employees’ Unions is currently planning a two-day nationwide strike.
CH Venkatachalam, general secretary of the All India Bank Employees Union, said, “LIC has already sold a majority stake in IDBI, a public sector bank, in 2019. It has also merged 14 public sector banks in the last four years. It is currently planning to privatize two more public sector banks. Negotiations in this regard were held on March 4, 9 and 10 in the presence of the Additional Chief Labor Commissioner and no favorable decision was reached. Therefore, we have decided to go on a series of strikes for two consecutive days on March 15, 16 together with the bank employees’ unions. About 10 lakh bank employees and officials will take part in the strike.
The Federation of Bank Employees ‘Associations is a member of the All India Bank Employees’ Union, All India Bank Officers ‘Federation, National Bank Employees’ Federation, All India Bank Officers ‘Association, Indian Bank Employees’ Federation, Indian National Bank Employees ‘Federation, National Bank Officers’ Congress of India. Are to carry out the strike.