Bank unions strongly oppose divestment, a bad bank and threaten to strike
Prabhjote GillFeb 3, 2021, 16:15 IST
Banks are threatening to go on strike if the government moves forward with its plan to disinvest public sector banks and Life Insurance CorporationBCCL
The All India Bank Officers’ Confederation (AIBOC) and the All India Bank Employees Association (AIBEA) are not on board with the Indian government’s plans to disinvest stake in banks.
According to them, selling government stake in public sector banks and Life Insurance Corporate (LIC) would threaten the stability of the sector.
Both organisations are threatening to strike if the government moves forward with its plans as announced by Finance Minister Nirmala Sitharaman during the Budget 2021-22 on February 1.Banking unions aren’t happy with the government’s plans to divest stake in public sector banks (PSBs). The All India Bank Officers’ Confederation (AIBOC) released a harshly worded statement opposing the an
Budget 2021 | Bad bank is a bad idea, privatisation of public sector banks retrograde: AIBEA
The AIBEA said the bad bank is a bad idea and is meant only to remove corporate defaulters from the books of the banks. February 01, 2021 / 05:07 PM IST
All India Bank Employees Association (AIBEA), the largest trade union of bank employees, has threatened to strike work against Budget proposals such as privatisation of state-run banks and setting up of bad bank.
In the Budget 2021, Finance Minister Nirmala Sitharaman said the government will initiate divestment in two more public sector banks (PSBs). “Privatising them means handing over people’s money to private hands with vested interests,” AIBEA said in a statement.
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Andhra Govt Suspends Panchyat Commissioner over Dumping of Garbage in Front of Banks
For representation: A man in personal protective equipment (PPE) clears bags filled with medical waste at a hospital, amidst the spread of the coronavirus disease (COVID-19) in Mumbai, India, August 11, 2020. REUTERS/Francis Mascarenhas
The government also sought an explanation from the commissioners of Vijayawada Municipal Corporation and Machilipatnam Municipal Corporation in the district where too similar incidents were reported, official sources said.
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The Andhra Pradesh government on Sunday suspended Commissioner of Vuyyuru Nagar Panchayat in Krishna district over the dumping of garbage in front of four bank branches in the town last week allegedly by sanitation workers as a mark of protest over indifferent attitude in sanctioning loans. The government also sought an explanation from the commissioners of Vijayawada Municipal Corporation and Machilipatnam Municipal
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