Bank unions escalate protest against proposed FRDI Bill

Although various bank trade unions are opposing the Bill, there is no united opposition till now

 

Major bank unions in the country plan to oppose the government’s proposed Financial Resolution and Deposit Insurance (FRDI) Bill.

They plan a preliminary depositors’ signature collection campaign, with plans for a nationwide strike if the Bill is introduced in the current session of Parliament.

Bank Employees Federation of India (BEFI), third largest of the nine bank unions, had planned a meeting in Chennai to decide what to do. Followed by a likely all-union meeting to have a united forum to oppose the Bill. “All the bank unions will be meeting to discuss the road ahead. In case the government pushes