Bank employees to go on strike on Oct 27

Hyderabad, Sep 4 (UNI) Bank employees across the country will go on strike on October 27 to protest against the ''neo-liberal'' economic policies of the UPA Government, Bank Employees Federation of India (BEFI) National General Secretary Santhi Bardhan said today.

Addressing a press conference here in connection with the seventh BEFI conference here from January 7-10 to wage a protracted struggle against the Manmohan Singh Government's disinvestment policy in public sector banks, the BEFI leader said the bank employees would be in the forefront of nation-wide stir on December 14 by major central trade unions and federations protesting against the policies of liberalisation, privatisation and globalisation.

Stoutly opposing the Tarapur Committee report recommending disinvestment of PSU banks' shares upto 67 per cent, the union leader lamented that acquisitions and mergers had become the order of the day and outsourcing was creeping into many areas be it in recovery of Non-Performing Assets (NPAs) or cheque clearing operations.

The National Conference, to be held for the first time in Andhra Pradesh, was significant in view of the need for waging many more struggles to prevent deeper penetration of foreign capital into the Banking sector which was against 'national' interest, BEFI state General Secretary B Sudhakar said.

In view of the drastic fall in interst rates, management of banks should extend pension option to 62 per cent of the employees, who did not enjoy the facility now, he demanded.

UNI SM SI DS1650