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Why Are Government Bank Employees Protesting Against Privatization of Banks?

“If You are facing issues with banking services, here’s why it is happening. Over 10 Lakh bank employees across the country are protesting for two days- Monday and Tuesday. The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions, has called for a two-day nationwide strike where they plan to oppose the privatisation two state-owned banks and retrograde banking reforms. Now if you remember, Finance minister Nirmala Sitharaman during her budget speech had laid out govt’s goal of achieving Rs 1.75 lakh crore disinvestment target. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019, and has merged 14 public sector banks in the last four years. Since then, the govt is facing massive protest against the Privatization of Public Sector Banks. Due to Bank Union Strike on Day 1: around 86 lakh cheques/ instruments worth Rs 6,500 crore were not cleared on Monday About 2 crore cheques/ instruments worth about Rs 16,500 crore were not cleared across the country. services like deposits, cash withdrawal were hit. While a protest on such a massive scale is happening across the country, you probably don’t know about it because the issue is getting hardly any coverage in the Mainstream media. but we believe the issue is very important and thus, joining me today is CH Venkatchalam, general secretary of AIBEA.

#BankSurgicalStrike #BankStrike #BankPrivatization #PublicSectorBanks #Privatization #Budget2021 #NirmalaSitharaman

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