Public Sector Banks to go on Nationwide Strike on August 22 & 23

All business and commercial activities across the country are likely to be crippled as public sector bank employees across the country will go on strike on August 22 and 23. The Secretary General of National Organisation of Bank Workers (NOBW), a affiliate of UFBU (United Forum of Bank Unions) declared that all India bank strike will go on August 22-23 to protest against the proposed banking sector reforms and outsourcing of jobs.

The Secretary of All India Bank Employees Association said that, over a million of bank employees and officers of 27 public sector banks, 12 old generation private banks and 8 foreign banks across the country will take part in the 2-day nation-wide strike.

The proposed banking law amendments are aimed at

  • Merger of banks
  • Allowing private and foreign capital in banks
  • Granting licences to corporate houses to start new banks
  • Handing over the Indian private sector banking to multi-national banks
  • Increasing the presence of Indian corporate and Foreign Direct Investment (FDI) in public sector banks
  • Raising of shareholders’ voting rights from 10 percent to 26 percent in private banks and super session of bank boards.

The Secretary claimed that, this would result in closure of rural bank branches with privatization of rural banking operations through contractual businesses. This strike would also oppose outsourcing of work to outside agencies and anti-labour policies.

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