Two-day all India bank strike from September 24

Patna, Sep 20 (UNI) Banking services across the country are likely to come to a grinding halt for two days from September 24 in response to a 48 hour nationwide Bank strike, called by the United Forum of Bank Unions(UFBU), a conglomerate of nine major bank unions.

More than one million employees of all public sector and regional rural banks in the country would participate in the proposed all India strike, called to protest the Centre's plan for complete privatisation of the banking sector in phases, Bihar Provincial Bank Employees Association Secretary Rameswar Prasad said.

Mr Prasad severely criticised the Union government programme to hand over various functions of public sector banks to private agencies, besides effecting a complete ban on new recruitment.

''This will lead to a complete collapse of the country's banking sector,'' Mr Prasad felt.

Citing the recent examples of crumbling down of the large US based financial institutions like Lehman Brothers, Merill Lynch and AIG, Mr Prasad cautioned that if the attempt to privatise was not reversed, Indian banking sector would face similar fate in near future.

Incidentally,this will be the second countrywide bank strike this year to press for the employees' demand despite causing severe inconvenience to millions of customers across the nation.

UNI ABA SB SP RAI1842