New Delhi: The United Forum of Bank Unions (UFBU) will go on a a two-day strike from December 16 to protest towards the federal government’s plan to privatise public sector banks.
Sanjay Das, common secretary of All India Bank Officers Confederation (AIBOC), instructed information company PTI that moreover the two-day strike, a sequence of different agitational programmes will be held if the federal government doesn’t hand over the thought of privatisation of the banks.
In the funds speech of 2021, Union Finance Minister Nirmala Sitharaman had mentioned that two public sector banks will be privatised through the present fiscal.Â
The authorities has already privatised IDBI Bank by promoting its majority stake within the lender to LIC in 2019, and has merged 14 public sector banks within the final 4 years.
UFBU is an umbrella organisation of 9Â financial institution unions. Members of UFBU embody All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA) and Bank Employees Confederation of India (BEFI).
Others are the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).
Das mentioned that this transfer to privatise PSBs will damage the precedence sectors of the financial system and likewise credit score circulate to self-help teams and to the agricultural financial system.
The proposed transfer is just not based mostly on sound financial logic however is only a political choice to hand over the banks to “crony capitalists”, he mentioned.
According to him, 70 per cent of the nation’s whole deposits are with the general public sector banks and handing them over to personal capital will put the widespread man’s cash deposited with these banks into jeopardy.
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With PTI Inputs
