Public sector bank employees stage protest in Panaji

Hundreds of bank employees staged a protest march in Panaji, as part of a pan-India two-day strike against the Central government’s moves to privatise public sector banks and other proposals to reform the banking sector, announced in Union Finance Minister Nirmala Sitharaman’s Budget.

Speaking to reporters on the sidelines of the protest, A.M. Pereira, general secretary of the United Forum of Bank Unions (UFBU) said that the strike was planned by bank workers’ unions as part of an extensive action plan to urge Prime Minister Narendra Modi to stop privatisation of public sector banks.

“The UFBU strongly opposes the various announcements made in the Budget of the central government regarding reform measures like privatisation of IDBI Bank and two Public Sector Banks, disinvestment in LIC, privatisation of one General Insurance company, allowing FDI in insurance sector up to 74 per cent, aggressive disinvestment and sale of public sector undertakings, etc,” Pereira said.

Public sector bank workers are on strike for two days beginning Monday.

“The government’s announcement to privatise our public sector banks is totally unfortunate and unwarranted. The need of the hour is to strengthen public sector banks,” he also said.