Why the two-day strike by PSU bank staff won’t be the last of the protests
Why the two-day strike by PSU bank staff won’t be the last of the protests | India Today Insight
The government’s plans to privatise two state-owned banks has staff unions seeing red
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UPDATED: March 17, 2021 00:37 IST
Bank employees protest against the move to privatise public sector banks, at Jantar Mantar, New Delhi, 15th March (Rajwant Rawat) The strike by hundreds of thousands of employees in the public banking sector for two days, March 15 and 16, which has disrupted services across the country, is the first major nation-wide strike related to bank privatisation plans after they were announced in the Union Budget on February 1 this year. Going by the nature of the issue, these protests will not be the last.
Banking operations in 217 branches across the district remained paralysed for the second day here on Tuesday. Members of United Forum of Bank Unions, an umbrella organisation of nine bank unions, wer
Not all banks will be privatised, says Sitharaman as over 10 lakh employees continue strike
The Union finance minister said the central government will ensure that the interests of every banking employee was ‘absolutely protected’. Updated Mar 16, 2021 · 07:32 pm A file photo of Union Finance Minister Nirmala Sitharaman. | PTI
Union Finance Minister Nirmala Sitharaman on Tuesday tried to assuage the fears of bank employees, who have launched a countrywide stir against the Centre’s policies. The minister assured them that not all state-owned banks will be privatised under the central government’s disinvestment plan.
Addressing a Cabinet briefing, Sitharaman said that the public sector enterprise policy “very clearly” stated that the Centre will continue operating public sector banks. “So, just to quickly say that all private banks will be sold off, is not right,” the finance minister said.
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Union Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha, during the Budget Session of Parliament, in New Delhi.
Amid bank strike over the proposed privatisation of the public sector banks, Union Minister Nirmala Sitharaman on Tuesday said not all banks are going to be privatised adding the interests of the employees will be taken care of. We have announced a Public Enterprise Policy, where we have identified 4 areas where public sector presence will be there, in this, the financial sector too is there. Not all banks are going to be privatized, she said. Interests of workers of banks which are likely to be privatized will absolutely be protected - whether their salaries or scale or pension, all will be taken care of, Sitharaman added.
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Employees of Allahabad Bank stage a protest during a two-day nationwide banks strike against the privatisation of Public Sector Banks and retrograde banking reforms in Patna on Monday.
The two-day bank strike led by nine unions of public sector banks (PSBs) in the country has severely affected the banking operations. Customers are facing inconvenience in parts of the country due to the strike called against the Centre s policy to privatise the lenders.Â
The strike has affected services like cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions have also been impacted.Â