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Two day bank strike successful: AIBEA

Two day bank strike successful: AIBEA
By
IANS
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Published on
Tue, Mar 16 2021 11:06 IST
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Two day bank strike successful: AIBEA (Photo:IANS/Kuntal Chakrabarty). Image Source: IANS News
Chennai, March 16 : The two day nationwide banker s strike in protest against privatisation of government banks was a total success, said the top leader of a major union.
The two day strike began on Monday.
As per reports received by us from our unions in various states, the strike has been successful. Overwhelming majority of the bank branches remain closed and shutters are down, said C.H. Venkatachalam, General Secretary, All India Employees Association (AIBEA). ....

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Bank privatisation Nirmala Sitharaman statement not all banks will be privatised

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Image Source : PTI
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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Insurance companies to go on relay strike on THESE days, check details

Insurance companies to go on relay strike on THESE days, check details
National insurance, Oriental insurance, United insurance and New India Insurance will be closed on March 17.
File photo
Updated: Mar 16, 2021, 08:12 PM IST
After a two-day strike by banking unions on March 15 and March 16, unions in the public sector general insurance companies will go on a strike on Wednesday (March 17) and Life Insurance Corporation of India will go on a strike Thursday (March 18).
The joint strike is being held to protest against the government s decision to privatise one of the general insurance companies increasing foreign direct investment limit to 74 per cent and divest stakes in LIC by an initial public offer (IPO). The union also wants fulfilment of demands like ending the NPS scheme and include benefits of the pension scheme 1995 for all. Negotiations for wage revision is also pending since August 2017. ....

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Privatisation move: LIC staff stage protest

Staff members form human chain at lunch hour
Members of the Insurance Corporation Employees’ Union (ICEU), Machilipatnam division, at CB-2 and CAB branches located at Bhavanipuram, formed a human chain at lunch hour, raising slogans like Protect and save LIC’. The demonstration was staged in response to a call given by All India Employees’ Association (AIIEA) to observe the 65th anniversary of the Nationalisation of Life Insurance Business.
Divisional joint secretary Ch. Kaladhar recalled that in 1956, the Government of India promulgated an ordinance and took over the management of 245 private insurance companies which had unleashed a reign of loot and plunder and had been resorting to financial misappropriations. ....

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Tatas, US-based fund Interups among bidders for debt-laden Air India

Tata Sons has emerged as a front runner to take over 100 per cent stake in the stressed national carrier Air India, sources involved in the sale process said on Monday after the expression of interest (EoI) deadline ended. There were other suitors as well including a consortium of Air India employees and US-based fund Interups.
Along with 100 per cent stake in the airline, the government is also selling its low-cost subsidiary Air Indian Express.
“Multiple expressions of interest have been received for strategic disinvestment of Air India. The Transaction will now move to the second stage,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said, adding that he’s satisfied that the sale process has moved to the next stage. ....

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