Trade unions to join all-India bank unions’ strike against privatization

NEW DELHI : Several central trade unions will support the two-day strike called by bank employees’ unions beginning Monday, and the one called by employees of life insurance companies on Wednesday.

With trade unions joining the protests, normal life across India is expected to be hit, more so in industrial belts. The trade unions have also decided to campaign “against the policies of assaults on workers and farmers’ rights" by the government on 24-26 March .

“The joint platform of Central Trade Unions (CTUs) and Samyakta Kisan Morcha (SKM) have come out in support of the strike in the finance sector in banks on 15-16 March and in general insurance companies on 17 March and in life insurance companies on 18 March," the group representing 10 central trade unions said.

Amarjeet Kaur, general secretary of the All-India Trade Union Congress (AITUC) said 15 March is being marked as “anti-privatization day, anti-corporatization day" by bank workers and trade unions.

AITUC said in a statement that the three farm acts, the four labour codes, and the move to privatize banks favour “monopoly" by corporates and privatization of national assets. “The workers and farmers united struggles will develop in the future. The codification of labour laws is to attack the working class and its unions, to weaken and tame them. The reduction in taxation of corporates and increase in indirect taxes on the common man is the policy," the union added.

Banking services will be impacted on Monday and Tuesday with nine unions declaring a two-day strike under the United Forum of Bank Unions (UFBU).

Several state-run banks, such as State Bank of India and IDBI have informed the stock exchanges. “It is advised that UFBU has given two-day nationwide strike call on 15 and 16 March 2021 in support of their demands. You are requested to kindly take the above intimation on record in terms of the provisions of Regulation 30 of SEBI (LODR) Regulations, 2015," an IDBI filing on the BSE shows.

“While the bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our bank may be impacted by the strike," SBI told the exchanges.

Source: Live Mint