Govt bank employees stage protest against privatisation

Vijayawada: Bank employees under the aegis of United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions and associations in the banking industry, staged a dharna near the Union Bank of India regional office here on Thursday protesting against the privatisation of public sector banks.

The UFBU has given a call for the two-day strike on December 16 and 17 opposing the privatisation and banking laws (Amendment) Bill, 2021. Employees and officers from various public sector banks participated in the protest.

Krishna district Bank Employees Association coordination committee secretary Y Srinivasa Rao, president KV Rangarao, Andhra Pradesh Union Bank Employees Association secretary V Srinivas, joint secretary Sandeep, AITUC State general secretary Obulesu and others spoke on the occasion.

The speakers condemned the decision of the Union government to privatise the public sector banks. They said the bank advances in the public sector banks gone up from Rs 3,500 crore to Rs 1.10 lakh crore during the last four decades. The operating profits of the public sector banks increased from Rs 76,945 crore in 2009-10 to Rs 1,97,373 crore by 2020-21.

The Bank Employees Associations leaders alleged the Union government is taking pro-corporate policies and felt that the decision has badly affected the public sector banks and causing huge loss.

The banking services in Vijayawada city and other parts of the State was badly affected due to the impact of strike. The bank employees closed down the bank and participated in the strike, which will be continued on Friday.