Bank employees go on two-day strike against privatisation move

Shivani Bhakoo

Tribune News Service

Ludhiana, December 16

Despite being foggy day and temperature slipping down, hundreds of employees of the banks under the banner of the United Forum of Bank Unions today gathered in front of Canara Bank, Bharat Nagar Chowk here, to protest against the privatisation move of the government.

A rally was held on the occasion, which was addressed by several senior leaders, including PR Mehta, president, Punjab Bank Employees’ Federation, DP Maur, general secretary, Joint Trade Union Council, Rajinder Pal Aulakh from the Punjab Agricultural Technocrats Union and Naresh Gaur, convener, UFBU.

Addressing the rally, Mehta said, “Nationalised banks have played a major role in the development of agriculture, small trades, small businesses, SSI, transport and in uplift of weaker sections of society. There is an argument that public sector banks are not doing well and hence to ensure better efficiency, these banks have to be privatised. We all know the efficiency of private banks, many of which have failed and closed down in the past due to mismanagement. On the other hand, all the public sector banks are doing well and earning substantial profits. Privatising such reputed banks will be a drastic step.”

Gaur said, Everyone is aware that 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. Hence, for the past 25 years, from the banner of UFBU we have been opposing the policies of banking reforms which are aimed at weakening public sector banks.”

He said banks and insurance companies deal with people’s money. Privatising them means handing over people’s money to private vested interests. It has, therefore, become inevitable for the United Forum of Bank Unions to draw the attention of the government and bank managements through agitation.