Press Esc to close
Sunday 04 December 2016
News updated at 7:46 PM IST
Weather
Max: 26.9°C
Min : 18°C
In Bengaluru
Rain lightly

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
South Indian actress Priyamani poses infront of a replica of Rome's Trevi Fountain...

South Indian actress Priyamani poses infront of a replica of Rome's Trevi Fountain...

People take part in boat rally in Yamuna river to spread awareness about 'Namami Gange Project...

People take part in boat rally in Yamuna river to spread awareness about 'Namami Gange Project...

Delegates of the 6th Ministerial Conference of the Heart of Asia-Istanbul Process...

Delegates of the 6th Ministerial Conference of the Heart of Asia-Istanbul Process...

Dog lovers participated at the 38th & 39th All Breed Championship Dog Shows, organized by...

Dog lovers participated at the 38th & 39th All Breed Championship Dog Shows, organized by...

People take out a rally to protest against Union Carbide and Dow Chemicals on the 32nd anniversary..

People take out a rally to protest against Union Carbide and Dow Chemicals on the 32nd anniversary..

Sitar player and composer Anoushka Shankar performs during a concert in Chennai...

Sitar player and composer Anoushka Shankar performs during a concert in Chennai...

Bollywood actor John Abraham during the launch of Nissan GT-R, in Mumbai...

Bollywood actor John Abraham during the launch of Nissan GT-R, in Mumbai...

The sunset in Kalaburgi on Friday...

The sunset in Kalaburgi on Friday...

Cricketer Yuvraj Singh and Hazel Keech during their marriage with Hindu rituals in Goa...

Cricketer Yuvraj Singh and Hazel Keech during their marriage with Hindu rituals in Goa...

Protesters throwing stones on police and CRPF amid tear smoke during a clash after Friday...

Protesters throwing stones on police and CRPF amid tear smoke during a clash after Friday...

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