STRIKE: Banks employees observe strike, hold protest

Ludhiana, December 20, 2012: On the call given by All India Bank Employees Association (AIBEA), All India Bank Officers’ Association (AIBOA) and Bank Employees Federation of India (BEFI), bank employees and officers working in the Public Sector Banks and private banks observed a daylong strike here today.

The call for strike was given to oppose banking law amendment, mergers in the name of functional improvement, scheme to bail out corporate defaulters and entry of corporate houses in banking business.

The Punjab Bank Employees Federation (PBEF) and AIBOA held a massive rally near Bharat Nagar Chowk here in support of their demands.

The trade union leaders said that ever since the government initiated the neo-liberal economic reforms policies in the country, there have been repeated attempts to somehow bring in policies that would liberalise, privatise and foreignise the banking sector.

They condemned the legislative measures being initiated to help the corporate loan defaulters by converting the bad loans as investments in the equity capital of these defaulter companies. 

They also expressed their strong reservation against proposed merger of PSU banks and permission proposed to be given to the corporate sector to enter banking business.

Among others, the Punjab Bank Employees Federation (PBEF), Ludhiana secretary Naresh Gaur spoke on the occasion.