World Socialist Web Site wsws.org 17 Mar, 2021 07:30 am

One million Indian bank employees join two-day national strike against privatisation

One million Indian bank employees join two-day national strike against privatisation
Public sector bank workers clearly expressed their readiness to fight against the Modi government’s pro-investor economic measures.

About one million public sector bank workers joined a two-day national strike on Monday and Tuesday against the plans by Prime Minister Narendra Modi’s government for mergers and privatisations of state banks.Tomorrow, workers in public sector insurance companies will join a strike against privatisation.The trigger for the bank workers’ strikes was the decision, proposed in the national budget presented by Finance Minister Nirmala Sitharaman on February 1, to privatise two more public sector banks.The government has already privatised the IDBI Bank by selling its majority shares in 2019 and has merged 14 public sector banks in the last four years.

” The strike was called by the United Forum of Bank Unions (UFBU), a federation of public sector bank unions that includes the All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).Maha explained: “I decided to join the strike and protest to express my opposition to privatisations and mergers of public sector banks.

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