: Bank unions call for two-day strike from December 16 to protest Bill proposing privatisation #IndiaNEWS The United Forum of Bank Unions, an umbrella body of nine bank unions, on Tuesday called for

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Bank unions call for two-day strike from December 16 to protest Bill proposing privatisation #IndiaNEWS
The United Forum of Bank Unions, an umbrella body of nine bank unions, on Tuesday called for a two-day strike from December 16 to protest against the proposed Banking Laws (Amendment) Bill, 2021. The Bill will introduce provisions for privatisation of two public sector In her Budget speech in February, Finance Minister Nirmala Sitharaman had announced that two government-owned banks will be privatised as part of the Centre’s disinvestment plan. The government has listed the Banking Laws (Amendment) Bill for discussion during the Winter Session of Parliament.Bank employees have been opposing the move due to fear of job loss. The group of unions has decided to oppose the government’s move, All Indian Bank Employees’ Association told PTI.“In a developing country like India, where banks deal with huge public savings and they have to play a leading role to ensure broad-based economic development, public sector banking with social orientation is the most appropriate and imperative need,� said the association’s General Secretary CH Venkatachalam Meanwhile, Viduthalai Chiruthaigal Katchi MP D Ravikumar on Tuesday wrote to the finance minister, expressing concerns about the Bill. Ravikumar is an associate of the All Indian Bank Employees Association.In the letter, Ravikumar stated that the public sector banks have benefited small traders, farmers and transport sectors. “However, they were also...Read more

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