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Bank unions call for 2-day strike to protest PSB privatisation; check dates

The call for the strike was given by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions.

twitter-logoBusinessToday.In | February 10, 2021 | Updated 00:53 IST
Bank unions call for 2-day strike to protest PSB privatisation; check dates
The call for the strike was given by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions. (Representative image)

Bank unions on Tuesday called for a two-day strike from March 15 to protest against the government's decision to privatise public sector banks (PSBs).

The call for the strike was given by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions.

In her Budget speech, Finance Minister Nirmala Sitharaman had said the government proposes to take up privatisation of two public sector banks in 2021-22.

The government had privatised IDBI Bank by selling a majority stake in the lender to LIC in 2019 and has merged 14 public sector banks in the last four years.

It has been decided to oppose the government's decision to privatise banks during the meeting of UFBU held on Tuesday, All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam said.

He said the issues of privatisation of PSBs and one general insurance company, setting up of a bad bank, increasing FDI limit in insurance sector to 74 per cent and aggressive disinvestment were taken up in the meeting, and it was decided to oppose these "retrograde" measures.

(With inputs from PTI)

Also read: Govt to work with RBI to execute bank privatisation announced in Budget: FM

Also read: Disinvestment not equal to 'selling family's silver': FM Sitharaman

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