Bank unions threaten to intensify protests against privatization

Bank unions across the country have threatened to hold more strikes against the Union Government’s proposal to privatize some state-run banks.In the recent general council meeting of the AllIndia Bank Employees’ Association (AIBEA), the members were asked to intensify their agitation.

The union said in a statement, “The general council meeting has called upon all our unions and members all over the country to continue the struggle against bank privatisation, get ready for prolonged strikes and intensify our campaign to defend public sector banking and defeat attempts of privatization.”

Around one million bank employees took part in the last strike, on 15 and 16 March, 2021 to show their opposition to the privatization plan.Bank unions have also begun engaging with customers and the public at large, on what they believe are the ill-effects of privatization.

According to the statement by the AIBEA, “Public sector banks provide permanent jobs for the educated youth. But we know the plight of the employees working in the new private banks where job security is totally absent. Fair wages are denied. Trade union rights are non-existent. Thus, privatisation of banks will enslave the young employees into these adverse conditions.”