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UFBU strike on October 27

Written by: Staff

Thiruvananthapuram, Oct 25 (UNI) All the employees and officers under the banner of the United Forum of Bank Unions (UFBU) will go for a one-day strike on October 27, demanding various issues including scrapping of the policies of outsourcing of basic banking services and clearing operations.

Talking to mediapersons here, the union leaders said the Reserve Bank of India (RBI) circular permitting the Banks to entrust the outsourcing activities like opening of bank accounts, withdrawal of cash, deposits of cash, issuance of drafts, sanction and disbursement of loans to private agencies on commission and contract basis would lead to outsourcing of basic banking services.

Alleging that the move would not only affect the jobs of the bank employees, but also endanger the secrecy and security of the customers' transactions. They pointed out that it would also result in exploitation of cheap labor for undertaking the existing permanent and perennial jobs for very low wages.

The demand included withdrawal of bank merger moves and dilution of voting rights, urging recruitment, universalisation of pension scheme, compassionate appointment and protection of trade union rights, they said.

The efforts of handing over banks and its deposit to the private and foreign monopolists by way of disinvestment and allowing FDI were highly condemnable, they said, adding the people in the country had deposited Rs 23 lakh crore in these banks.

Union leaders Chandrasekharan Nair (AKBEF), Jagannathdan (AIBOC), K Raja Kurup (NCBE), Jose T Abraham (BEFI), Jacob Mathew (AIBO) and UFBU district convenor T Sasi Kumar were also present.


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