Bank unions to observe nationwide strike today

Bhubaneswar/New Delhi: Protesting consolidation of banks, loan defaults by large borrowers and inadequate capital support, bank unions will observe a nationwide strike today.

The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, including the All Indian Bank Officers Confederation (AIBOC) and All India Bank Employees’ Association (AIBEA).

“We are against consolidation of public sector banks and have placed a 16-point charter of demands before the government which wants to reduce the number of public sector banks in the country to around 10 through a series of mergers and acquisitions,” said a bank official.

“The decision of government has adversely affected the life of bank employees. Besides, it is putting extra burden on the employees with financial background,” said AIBOC vice-president Sambit Mishra.

Employees of 20 public sector and 52 regional, rural and gramya banks will go on strike today, Mishra added.