Bank Unions plan to go on strike against privatisation on March 15-16

Meet in Hyderabad to discuss Budget announcements on privatisation of IDBI Bank and two Public Sector Banks, setting up bad bank, LIC disinvestment among other things

Bank Unions have threatened to go on strike on March 15 and 16 against the government's plan to privatise Banks.

C H Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA) said that a meeting of United Forum of Bank Unions was held at Hyderabad today.

The meeting adopted a Resolution urging upon the Government to reconsider their standpoint and find amicable solutions to the demands of the farmers.

The meeting discussed the various announcements made in the Budget regarding measures such as privatisation of IDBI Bank, two public sector banks and one general insurer, setting up of a bad bank, disinvestment in LIC, allowing FDI in Insurance Sector up to 74 per cent, aggressive disinvestment and sale of public sector undertakings, etc. 

"The meeting observed that all these measures are retrograde and hence need to be protested and opposed," said Venkatachalam.

He said, after deliberations, the meeting decided that intensive struggle programmes and agitational actions have to be launched to fight back these policies of the Government.

The Unions have called for a strike on March 15 and 16, further strikes will be decided looking at developments, said Venkatachalam.