Tirupati: Banking services hit as staff protest privatisation of PSUs

Tirupati: Banking services were seriously hit on Monday as the employees began their two-day strike protesting the move to privatise two state-owned lenders as part of the government's disinvestment plan. Resenting the move, the United Forum of Bank Unions (UFBU) had given a two-day strike call from Monday.

The members of UFBU in Tirupati have assembled before the Union Bank branch at Kennedy Nagar as part of their protest. The leaders said nearly 10 lakh bank employees and officers of various banks have been taking part in the strike. Addressing the employees, UFBU convenor K V S N Murthy said the Central government has proposed the privatisation of national banks in the budget session of Parliament.

Explaining the adverse effects of such a privatisation, he said there will be no assurance for bank deposits under the private regime and the interest rates on deposits will go up steeply. Future generations will not get employment opportunities. The service tax on availing various services will have to be paid. On behalf of various associations like AIBEA, AIBOC, NCBE, AIBOA, BEFI and others, Khadar, Prasad, Babu, K Murali Krishna, Dhanwanth Kumar, Vijay Bhaskar and others participated in the protest and raised slogans demanding withdrawal of anti-people and anti-labour reforms and to protect the PSUs.

MLC Y Sreenivasulu Reddy reached the protestors and expressed his solidarity to them. Addressing the employees, he criticised the Central move to privatise PSUs.

While the strike is going to be continued on Tuesday also, the customers who are in need of various banking transactions have expressed their ire over the continuous closure of banks.

It may be noted that the banks have not worked for the last two days also due to Second Saturday and Sunday. Several ATMs in the city have also dried up causing much inconvenience to the customers.