Nationwide bank strike on December 16, 17

Tribune News Service

Ludhiana, December 8

On a call given by the United Forum of Bank Unions (UFBU), bankers will go on nationwide two days’ strike on December 16 and 17.

The strike call has been given to protest against the government’s plan of tabling Banking Laws Amendment Bill, 2021, in recent winter session of the parliament. The government is planning to privatise two public sector banks through the Bill.

Naresh Gaur, union convener, said, “As per the latest information, the government has decided to privatise two public sector banks and one general insurance company. Banks and insurance companies deal with people’s money. Privatising banks means handing over people’s money to private persons with vested interests.”

“Bad loans and NPAs in banks have been increasing year after year because of corporate defaulters. Instead of taking tough action against them, the government wants to white wash balance sheets by shifting these bad loans from books of banks to the Assets Reconstruction Company or the Bad Bank. This will only benefit corporate defaulters, remove all bad loans from public glare and silently write them off,” he added.

“It has, therefore, become inevitable for the United Forum of Bank Unions to hold protest in order to draw attention of the government and bank managements,” he said.

At the same time, industrialists have expressed concern over the strike call given by banks on two consecutive working days. Industrialists feel that strike in banks paralyses the system and transactions get affected.

Badish Jindal, president, FOPSIA, said, “Transactions worth Rs300 to 400 crore are done through banks in the industrial town on daily basis. When there are strike calls, the work gets affected and financial transactions are hit.”

“Now, we will either have to postpone or pre-pone the financial matters as cheques will not be cleared, no payments will be made by banks, ATMs will also be hit. Instead of going on strikes, bank employees should initiate a dialogue with government representatives to save public from harassment”, he added.