Bank Unions Call for All India Strike on 22nd August

C. H. Venkatachalam, General Secretary of All India Bank Employees’ Association (AIBEA), speaks to Newsclick on the reason why bank unions called for a strike on the August 22. The government's gradual move towards privatising the banking sector is one of the reasons for calling the strike, he said and also demanded the government should provide the required capital to the public sector banks. It is a mistaken notion to think that public sector banks are a drain on the exchequer. These banks have to give back huge funds to the government in the form of dividend payments and income tax payments.