Hyderabad: UFBU calls for bank strike on March 15-16

Koti (Hyderabad): United Forum of Bank Unions (UFBU), an umbrella organisation of unions in banking sector, met on Tuesday at Hyderabad to chalk out course of action against the move of bank privatisation. The meeting decided to oppose the decision of the government. Two-day bank strike will be observed on March 15 and 16. The strike will be preceded by different programmes like postering, badge wearing, demonstrations, day-long dharnas in state capitals and other centers, said a press release.

The UFBU, since its formation, more than two decades ago, had been relentlessly opposing any move of privatization of public sector banks. With Finance Minister Nirmala Sitharaman's proposal of bank privatisation in the union budget, the bank employees and officers across the country observed protest demonstration 4th instant at the call of UFBU, said union leaders at the meeting . While announcing 'Atma Nirbhar Package', the Finance Minister stated that the government will come out with a policy of strategic disinvestment of public sector enterprises. In her budget speech, she mentioned that the government approved the policy, which amounts to outright sale of central public sector enterprises (CPSEs).

The policy provides a roadmap for disinvestment in all non-strategic and strategic sectors. Four areas have been identified as strategic sector, where bare minimum CPSEs will be maintained and rest will be privatised or merged or subsidiarised with other CPSEs or closed. In the remaining sectors all CPSEs are proposed to be privatised or closed. Banking, Insurance and financial services have been categorised as one of the four strategic sectors. The banking and financial services employees are strongly opposing the proposed measures of the Central government.