UP: Over 10,000 Employees of 900 Banks to Observe two-day Strike Against Privatisation

Lucknow: Over 10,000 employees of 900 banks in Uttar Pradesh are gearing up to observe the all India bank strike on December 16 and 17 against the Banking Law Amendment Bill, 2021, which facilitates privatisation of two public sector banks. The strike has been called by the United Forum of Bank Unions (UFBU).

A press conference regarding the strike was held on Tuesday in Lucknow to decide the roadmap of the protest against the Union government’s plan to privatise public banks. Because of the strike, banking services will remain affected on December 16-17 in the Bharatiya Janata Party-led state.

Anil Tiwari, media in charge of the UFBU, said that bank employees will hold a protest at the State Bank of India headquarters in Hazratganj on both days.

Commenting on the government’s plan to privatise the banks, Tiwari said, “It is unfortunate that the government is privatising banks. They should understand that public sector banks are the lifeline of the Indian economy. They should remain so. We strongly oppose any move to privatise public sector banks. These banks belong to the people and we oppose any action to hand them over to the private corporations and the billionaires.” He further said that due to the two-day strike, transactions worth Rs 1200 crore will be affected in the banks in UP.

Officers and employees of 900 banks will hold a demonstration in front of the main branch of SBI in Lucknow on the first day of the strike (December 16), and the Indian Bank (formerly Allahabad Bank) in Hazratganj on the next day, Tiwari informed the media.

The office bearers of the union alleged that the corporate houses were eyeing Rs 157 lakh crore of the public's hard earned money, which is in the deposits of nationalised banks. With the privatisation of banks, these corporate houses will be able to take loans arbitrarily from the amount of this deposit.

Pointing out the plight of farmers and labourers, union leader Akhilesh Mohan said that privatisation of banks would not reduce their (bank employees) salaries. But the poor farmers and laborers who would have gotten loans at three to four percent rate now, would be unable to do so after privatisation. Such people would not be even allowed to wander on the premises of a private bank.

With the repeal of the three controversial farm laws, the bank employees were emboldened, and India might as well expect a series of agitations if the Union government did not review its approach to privatisation of public sector banks, the union leaders told Newsclick.

Meanwhile the state general secretary of the All India Bank Officers’ Confederation, Saurabh Srivastava said, “In the name of speeding up the country’s economy, the government is indulging in ill-fated efforts, but the bank employees are fully aware of the plans and post consequences. We are ready for struggle,” he said, adding that repeal of farm laws has reignited hopes for many others and they know how to fight for their rights.

The bank unions said that their agitation might take a form similar to the farmers’ protests which had run for a year at the Delhi borders if the Union government did not pay heed to the employees’ demands.