Bank unions ready to postpone strike if government abandons plan to present bill on bank privatization: AIBEA

The banking unions are ready to reconsider their two-day strike on December 16 and 17 if the government gives assurances that the banking bill will not be presented in the current winter session, CH Venkatachalam, general secretary, All India Bank Employees Association (AIBEA) said.

“The strike is because of the bill. If the government says the bill will not be introduced in this session, then we will not insist on the strike, ”Venkatachalam said. Activity area.

Read also: Bank unions call for a two-day national strike in banks on December 16 and 17

He said this position of the banking unions had been conveyed to the Association of Indian Banks (IBA), which had a meeting with the banking unions two days ago to avoid the strike on December 16 and 17.

All eyes are now on the conciliation meeting scheduled for December 14. It may be recalled that Chief Overtime Worker Joshi adjourned the meeting until December 14 last week.

“Going into the wrong hands”

Venkatachalam said bank privatization would lead to savings from public social capital – huge in a developing country like India – in the wrong hands of the private sector.

“Today we oppose privatization not because we are against the BJP or not because we are against Prime Minister Modi or not because we are against all dogma. This is our practical experience as an association of bank employees. We saw several bank failures in private hands in the 1950s and our apprehension is once again that the same danger will come. Unlike last time, this time the money at stake is enormous, ”he added.

Moreover, in a privatized configuration, there is a risk that the funds will not be deployed in the really needy sector (such as the priority sector), he added.

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