Banking strike on October 27

Udupi, Sep 3 (UNI) Over ten lakh bank employees across the country, owing allegiance to nine unions, will go on a token strike on October 27 against the Government's move to consolidate public sector banks and demanding second pension option and recruitment on compassionate grounds.

Inaugurating the second regional conference of the Vijaya Bank Officers' Union here today, its General Secretary K Vishwanath Naik said the Government's move of consolidation and outsourcing of jobs by the banks went against the interests of the banks.

He called upon the bank employees to put in efforts to fulfill the Government's target of doubling agricultural credit in three years, ending next year.

All India Bank Employees Association former Vice-President P B Sundaresan, who was the chief guest, alleged that the Government's move of amalgamation, opening up 74 per cent ownership in private banks and ensuring only 51 per cent ownership by the Government in banks amounted to handing over the stupendous banking edifice with nearly Rs 22 lakh crore worth savings of the people to Indian and foreign tycoons and subject the industry itself to foreign financial pressure.

He claimed branch closure through mergers, staff redundancy through exit schemes and outsourcing of jobs would become the order of the day and the social ethos of lending policies would give way to ''profit, more profit and super profit''. The privatisation move seemed to be best weapon chosen by the Government for de-unionisation, he added.

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