United Forum of Bank Unions calls for strike on Dec. 16-17

The strike is in protest of privatisation of banks

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The United Forum of Bank Unions (UFBU) has called for a strike on December 16 and 17, in protest against the Centre’s move towards privatisation of public-sector banks.

The nine members of UFBU are, the 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).

The AIBOC intends to hold further agitations if the Government does not discard the idea of privatisation of the banks.

The intention to privatise two public-sector banks in this fiscal year had been revealed in the budget speech of 2021, by the Finance Minister. Following this announcement, the UFBU had called a two-day strike on March 15 and 16 2021, wherein bank staff and officials participated in huge numbers.

Now, in the winter session of the Parliament, the Government is expected to introduce the Banking Laws (amendment) Bill which will facilitate the privatisation of two public-sector banks.

The UFBU plans to hold demonstrations outside the Parliament on the day the Bill is introduced. Along with the submission of an online petition to the Prime Minister, the banks’ union will also organise a twitter campaign against privatisation of banks.

Many feel that privatisation of banks is unnecessary, as the public-sector banks have collectively posted a significant net profit of over Rs 17,000 crores, and that it will only create uncertainty amongst the depositors.

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