Strike by 7 lakh PSB staff today against banking bill
20 Dec 2012 5:58 AM IST
Four bank employee unions will go on a one-day strike on Thursday to protest against the Banking Laws (Amendment) Bill and government’s merger designs for banks. The unions decided to go ahead with the strike after the conciliatory meeting with the Indian Banks’ Association before the chief labour commissioner here failed, announced All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam.
Besides the All India Bank Employees Association, the Bank Employees Federation of India (BEFI), All India Bank Officers’ Association (AIBOA) and National Union of Bank Employees (NUBE) are participating in the nationwide strike.
The unions informed that about 7 lakh employees of various public sector banks would participate in the strike. The strike decision follows the Lok Sabha clearing the Banking Laws (Amendment) Bill after the government dropped controversial provisions relating to allowing banks to trade in futures.
The Bill paves the way for foreign investments in the sector and establishment of new private banks.
It will also allows the Reserve Bank of India (RBI), the country’s central bank, to supersede boards of private sector banks and increase the cap on voting rights of private investors in public sector banks to 10 per cent from 1 per cent.
Many banks, including Indian Bank and Corporation Bank, have informed customers that normal functioning of branches may be affected if the strike materialises. Corporation Bank said that a section of the bank’s employees may participate in the proposed strike on the said date, if the strike materialises. In view of the above, it is likely that the normal functioning of the branches may get affected, it further said.
The unions are pointing out that the amendment to the banking laws will dilute the interests of public sector banks.
In August, employees of public sector banks had gone on a two-day nationwide strike opposing banking sector ‘reforms’ and outsourcing of non-core activities.
Besides the All India Bank Employees Association, the Bank Employees Federation of India (BEFI), All India Bank Officers’ Association (AIBOA) and National Union of Bank Employees (NUBE) are participating in the nationwide strike.
The unions informed that about 7 lakh employees of various public sector banks would participate in the strike. The strike decision follows the Lok Sabha clearing the Banking Laws (Amendment) Bill after the government dropped controversial provisions relating to allowing banks to trade in futures.
The Bill paves the way for foreign investments in the sector and establishment of new private banks.
It will also allows the Reserve Bank of India (RBI), the country’s central bank, to supersede boards of private sector banks and increase the cap on voting rights of private investors in public sector banks to 10 per cent from 1 per cent.
Many banks, including Indian Bank and Corporation Bank, have informed customers that normal functioning of branches may be affected if the strike materialises. Corporation Bank said that a section of the bank’s employees may participate in the proposed strike on the said date, if the strike materialises. In view of the above, it is likely that the normal functioning of the branches may get affected, it further said.
The unions are pointing out that the amendment to the banking laws will dilute the interests of public sector banks.
In August, employees of public sector banks had gone on a two-day nationwide strike opposing banking sector ‘reforms’ and outsourcing of non-core activities.
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