Monday, September 26, 2022

Strike against merger of PSU banks gets support from CITU, AITUC

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New Delhi: A day after bank employee unions issued a strike call against the merger of PSU banks, the Centre of Indian Trade Unions (CITU) has extended its full support to bank employees countrywide. This comes a day after the All India Trade Union Congress (AITUC) extended support to the strike in an official statement.
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The strike is scheduled to take place on October 22.

“CITU welcomes the initiative of the bank employees’ movement to fight and resist this damaging and destructive exercise by the BJP government at the Centre and extends full support to the joint decisions of AIBEA and BEFI to go for a countrywide strike on October 22 as part of their resistance struggle. CITU calls upon all the trade unions countrywide and CITU unions, in particular, to mobilise and hold solidarity demonstrations in front of banks in their respective area countrywide on the day of the bank strike,” an official statement said.

‘Merger of PSU banks will weaken banks’

“The merger of banks is being justified by the government on the grounds of strengthening and consolidating the concerned banks, but in reality, such mergers will further weaken all the banks post-merger. Problems of public sector banks emanate from the deliberate default in loan repayment by defaulter corporates with penalty. Instead, the government of the day is busy in legitimising pilferage of bank money by the defaulter corporates through Insolvency and Bankruptcy Code procedure, forcing the public sector banks to sacrifice a substantial portion of their legitimate dues just to favour the defaulters,” the statement said.

The backdrop

Banking operations are slated to take a hit on October 22 as bank employees have called for a strike. The Bank of Baroda (BoB) has already issued a warning saying that bank operations could be affected due to the proposed strike by trade unions. “In the event, the strike materialises, the functioning of the branches may be affected or paralysed,” BoB said in a statement.

The strike against the merger of banks has been called by the All India Bank Employees Association (AlBEA) and the Bank Employees Federation of India (BEFI).

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