Bank, Insurance Firm Unions Threaten Nationwide Stir Over Govt Policies

Unions representing banks and insurance companies have formed a co-ordination committee, which threatens to protest and strike if August does not meet its demands.

AIBEA Secretary General CH Venkatachalam is the chairman of this committee. GIEAIA Secretary General K Govindan is the convenor.

Venkatachalam said the increasing attacks in the banking and insurance sectors were the main triggers for the formation of the coordination committee of banks, insurance and finance unions.

The All India Bank Employees Association, All India Officers Association, General Insurance Employees Union of India and All India LIC Employees Federation are part of this committee.

The committee has decided to organize a dharna in all the state capitals on 14 July.

Union banks are opposing privatization, GIC disinvestment, FDI and insurance in banks and the FRDI Bill. They want recruits in banks, LIC and GIC and want outsourcing and termination of contractual jobs.

Venkatachalam said, “If the government does not revise its policies on the banking and insurance sectors and continues with its current policies, the CCBIFU will decide to go on strike during the winter session of Parliament in December 2018.” Due to the nationwide strike called by 10 central trade unions today, employees of SBI, IOB, ICICI Bank, HDFC Bank and Axis Bank kept away from the agitation.

All India Bank Employees Union general secretary CH Venkatachalam told PTI, “23 public sector banks, 12 private sector banks, 52 regional rural banks and more than 13,000 cooperative banks went on strike today in protest against the government’s pro-corporate policies Huh.”

He said workers from over 10 lakh banking sector are supporting the call for a strike given by 10 central trade unions, as their negotiations on the government’s 12-digit charter failed last month.

Venkatachalam further said that State Bank of India and Indian Overseas Bank among the public sector banks have not joined the strike while private sector ICICI, HDFC, Axis and Yes did not participate in the day-long strike. He said that yes, he did not participate in the strike because there is no trade union.

While the clearing business across the country was affected, banks have fully stocked ATM machines.

Venkatachalam said that the banking sector has joined the stir in opposition to the anti-worker and corporate policies of the central government.

The government yesterday appealed to the trade unions to agitate for the benefit of workers and the nation. The unions however decided to go ahead with the strike as they did not hold talks with a ministerial panel headed by Finance Minister Arun Jaitley last month. Make any talk on the 12-point charter of their demands.

The charter of 12-point demands of trade unions to curb price rise, curb unemployment, strictly enforce basic labor laws, provide universal social security cover for all workers and provide minimum wage of Rs 15,000 per month Measures are included.