Bank employees strike - UFBU's dissent towards merger!

Dear Students,

Public sector bank employees are on a one-day strike against the proposed merger of associate banks with the State Bank of India (SBI) with the subject “Issue and demand to stop banking sector reforms”.  They are also opposing the banking reforms announced by the government recently. About 10 lakhs bank employees and officers of all the public sector banks, private banks and foreign banks are on a full day all India bank strike.

The United Forum of Bank Unions, the umbrella organisation of nine bank unions, has been opposing Centre's move towards privatisation of public sector banks i.e. against the merger of the five associate banks of the State Bank of India (SBI) {i.e.  State Bank of Bikaner and Jaipur (SBBJ), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Mysore (SBM) and State Bank of Hyderabad (SBH) with the SBI. }with SBI and the privatisation of IDBI Bank. 

UFBU is also demanding to declare willful and deliberate defaulters as criminal offenders and be punished. 

Note: The nine constituent units of UFBU are: AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO. 

Lets see what may be the next move of the government towards further bank privatization and upliftment & strengthening of the banking sector in India.

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