Banks to cease work for two days
Source: Hueiyen News Service
Imphal, August 19, 2012:
In a bid to pressurize the Central Government to implement and address their grievances, United Forum of Bank Unions (UFBU) has called a nationwide strike for all the employees working in all public sector, nationalized, co-operative, rural and private banks on 22nd and 23rd August 2012. In Manipur also, there will be no normal banking transactions at all bank branches on these two days, said a statement by UFBU.
UFBU has objected to privatization of Public Sector Banks (PSB); reduction of government's equity in PSB, availing world bank loan to capitalize PSB; allowing unrestricted entry of foreign capital in banking sector; deleting section 12(2) of the Banking Regulation Act; removing the ceiling on voting right of foreign investors; issuing license to industrial houses to start their own banks; outsourcing permanent banking jobs and normal banking services; etc.
It has also pressed for implementation of compassionate appointment/ financial compensation scheme as finalized between IBA and UFBU and 5 days banking; to regulate and define working hours of banking officers; to stop unilateral implementation of Khandelwal Committee recommendations; to stop banking sector reform and closure of rural branches.