Bank unions threaten nationwide strike on May 25

Vadodara, Apr 1: Bank unions have given another call for a nationwide strike on May 25 to protest against their long-held grouses of privatisation and reforms in the banking sector among other issues.

The All-India Banks Employees Association (AIBEA) has called for the day-long strike against the government's plans to privatise public banks and other reforms in the sector, including merger of smaller lenders.

Earlier this week, a section of employees and officers of IDBI Bank was on strike on multiple days to protest the Government's proposal to pare its stake in the lender to below 51 per cent.

"We will go on strike on May 25 in support of various demand, including make banking a fundamental right, strengthening public sector banks, against privatisation of public sector banks, adequate capital infusion in PSBs and stringent measures to recover bad loans," said AIBEA General Secretary C H Venkatchalam said.

The employees will also demand to declare wilful default of bank loan as criminal offence, publish list of wilful defaulters and a Parliamentary probe into the Vijay Mallya case, he said.

"More than the ownership issue, the top-most issue today is the alarming increase in bad loans in the banks which is threatening to topple the entire banking sector." The union claims it has over 5 lakh bank employees as its members.

PTI