People's Democracy

 CITU Congratulates Bank Employees

IN its statement issued from New Delhi on August 5, the Centre of Indian Trade Unions (CITU) congratulated the United Forum of Bank Unions (UFBU) for organising a successful strike on the day. More than 10 lakh bank employees joined it to voice protest against the anti-people banking ‘reforms’ and anti-worker outsourcing policies in the banks.

The government has been attempting to reduce its capital in the public sector banks and has introduced a bill in the parliament to remove the existing 10 per ceiling on the voting rights of foreign investors in private banks, which will mean full voting rights for them. The government has also announced its decision to allow industrial houses to start their own banks. It has also decided to extend banking services to rural areas through private routes, thus outsourcing the normal banking services.

The CITU expressed full solidarity and support to the UFBU in the bank employees’ struggle and movement against these retrograde policies of the government, and asked the government to withdraw its anti-people and anti-worker banking policies as demanded by the UFBU.