The Hindu Business Line : AIBEA plans protest action from July

The All India Bank Employees Association (AIBEA) at its General Council Meeting last week decided that the only way to express its discontent over the Government's stance on privatisation of banks, outsourcing of banking activities and recruitment would be through campaigns and struggles including repeated strikes.

In the first phase, the unions have planned to demonstrate and organise rallies and meetings from the first week of July before culminating into an All India strike on August 1.

The General Secretary of the AIBEA, Mr C.H. Venkatachalam, accused the Government of encouraging and forcing banks to go for further IPOs with the intention of reducing the Government's stake and pushing banks to virtual privatisation.

Demanding withdrawal of the proposed deletion of Section 12(2) of the Banking Regulations Act on voting rights in banks, Mr Venkatachalam said deletion of the sub-section would be a retrograde move, detrimental to the economy and country.

Expressing concern over the RBI's instructions on outsourcing of banking activities, he said the move would jeopardise the employees' job security as well. The AIBEA has condemned the attempts of the management to bypass the unions by violating settlements.

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