People's Democracy

(Weekly Organ of the Communist Party of India (Marxist)


No. 38

September 28 , 2008


CPI(M) Extends Support To Bank Employees Strike

The Polit Bureau of the Communist Party of India (Marxist) issued the following statement on September 24, 2008

THE Communist Party of India (Marxist) extends its support to the strike by bank employees against further liberalisation of the banking sector. The two-day strike call has been given by the United Forum of Bank Unions representing employees and officers of the banks.

The Polit Bureau warns that in the light of the global financial crisis, such reforms will only make India more vulnerable. The country has been able to stave off this crisis only because the UPA government could not go ahead with these measures owing to the stiff resistance from the Left parties.

The Polit Bureau cautions the government against proceeding with such reforms.