Press Esc to close
Friday 29 July 2016
News updated at 1:02 PM IST
Weather
Max: 27.6°C
Min : 19.4°C
In Bengaluru
Sunny day

Nationwide bank strike on Thursday

Mumbai, Dec 17, 2012 (IANS)
File photo of striking bank employees - AP

 Around 700,000 employees and officers of the public sector, private sector and foreign banks will strike work all over India Thursday, a bank official said here Monday.

Work in 27 public sector banks, 12 old generation private sector banks and eight foreign banks shall come to a standstill due to the strike, said Vishwas Utagi, secretary, All India Bank Employees' Association (AIBEA).

"We are protesting the central government's move to push amendments to the proposed banking laws bill which is place before parliament. We have already served a strike notice to the Indian Banks' Association," Utagi told mediapersons here.

He said the banking community is opposed to the proposed amendments to the Banking Regulation Act, 1949, which are aimed at handing over Indian private sector banking to multi-national banks and increasing presence of Indian corporate and foreign direct investment in public sector banks.

According to Utagi, the proposed amendments would allow acquisition and merger of banks, infuse more foreign capital banks, unrestricted voting rights and granting licenses to corporate business houses to launch banks.

"There is an attempt to close down rural branches and resorting to large number of ultra-small branches, thereby privatising rural banking operations, lack of stringent measures to recover increasing non-performing assets and bad loans," Utagi said.

Demanding large-scale recruitment in the banking sector, Utagi said the banking employees are also protesting outsourcing of regular banking jobs, thereby jeopardising permanent jobs and job security.

As part of the day-long strike, bank employees shall take part in rallies and processions in all cities in the country. A massive rally is also scheduled at Azad Maidan in south Mumbai.


Go to Top

Photo Gallery
Renowned sand artist Sudarsan Pattnaik creates a sand sculpture of tiger with message...

Renowned sand artist Sudarsan Pattnaik creates a sand sculpture of tiger with message...

Amitabh Bachchan at the World Hepatitis Day 2016 event...

Amitabh Bachchan at the World Hepatitis Day 2016 event...

Jayalalithaa presents a primary membership card to a newly joined party worker...

Jayalalithaa presents a primary membership card to a newly joined party worker...

Locals try to douse a car godown that caught fire at Panagarh in Burdwan district of West Bengal...

Locals try to douse a car godown that caught fire at Panagarh in Burdwan district of West Bengal...

A policeman fires teargas shell to disperse protesters during a clash in Srinagar...

A policeman fires teargas shell to disperse protesters during a clash in Srinagar...

School students take part in an awareness event on the eve of International Tiger Day...

School students take part in an awareness event on the eve of International Tiger Day...

A demonstrator holds a placard during a protest organised by a Muslim minority forum...

A demonstrator holds a placard during a protest organised by a Muslim minority forum...

Cattle move through flood water at Dhekiabari Village in Kamrup district of Assam...

Cattle move through flood water at Dhekiabari Village in Kamrup district of Assam...

RJD Chief Lalu Prasad looking at his waterlogged residence after a press conference in Patna...

RJD Chief Lalu Prasad looking at his waterlogged residence after a press conference in Patna...

Villagers move to safe place in a boat from the flooded Panikhiti area in Kamrup district of Assam..

Villagers move to safe place in a boat from the flooded Panikhiti area in Kamrup district of Assam..

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523