PSU bank employees on 2-day nationwide strike

PSU bank employees on 2-day nationwide strike

Mangalore Today News Network

Mangalore, August 22, 2012: Public sector bank employees all over coastal Karnataka are taking part in a 2-day nation-wide strike on Wednesday and Thursday, protesting against certain banking sector reforms and outsourcing of non-core activities.

This strike has had a major impact on the banking sector in the twin districts as well as Uttara Kannada. However, certain private sector banks, ATMs, and foreign banks are operating as usual.

 

The United Forum of Bank Unions (UFBU), an organization comprising 9 banking unions, had called for this strike. Under the banner of the DK unit of the UFBU, a demonstration was held this morning in front of State Bank of India. The protestors shouted slogans to bring the attention of the authorities toward their unfulfilled demands.

They opposed banking sector reforms and the unilateral implementation of the Khandelwal Committee Report on human resource management in public sector banks.

In his protest address, C. H. Venkatachalam, general secretary of the All India Bank Employees Association (AIBEA), said that around 10 lakh PSU employees are taking part in this 2-day nationwide strike. The protestors are employees from 24 public sector banks, 6 foreign banks, and 12 private banks. He added that ATM machines will work till the cash in them is exhausted, after which even ATMs will not function.

The employees are protesting against the government’s privatization, globalization, and liberalization policies. The bank unions also demanded implementation of more effective loan recovery methods. Unions are also raising their voices against the Banking Laws Amendment Bill, which is now pending in Parliament. This bill contains provisions to raise shareholders’ voting rights to 26 percent in private banks and the supersession of bank boards.

The protestors are also against the implementation of the recommendations of the Khandelwal Committee, which suggested outsourcing of non-core banking activities, inclusion of content and methodology for testing, making testing of computer skills mandatory for clerks as well as officers, and other measures. The committee had also recommended minimum qualification of graduation and Std X for clerks and sub staff, respectively.

India has around 87,000 branches of public sector banks with over 10 lakh employees. These banks operate 63,000 ATMs and control 75 percent of the country’s banking sector.

Owing to the strike, banking operations such as deposits, withdrawals, clearing of checks, and so on will be affected in all public sector banks, including the State Bank of India. But private sector banks such as ICICI Bank, HDFC Bank, Axis Bank, and foreign banks will function as usual.

Bank unions supporting the strike are All India Bank Employees Association, National Confederation of Bank Employees, All India Bank Officers Confederation, Bank Employees Federation of India, Indian National Bank Officers Congress, India National Bank Employees Federation, National Organization of Bank Officers, and National Organization of Bank Workers. All these unions form part of the UFBU.