LIC employees stage protest against privatisation move

Two-day government sector bank employees protest from tomorrow

KADAPA: Several unions on Saturday staged a protest against the Union Government's decision to privatize LIC. Protestors collected signatures to mobilise support at Rajiv Park here.
Union representatives demanded the Centre to immediately reverse the decision.

In another incident, representatives of the United Forum of Bank Unions urged Chief Whip Srikanth Reddy to support the strike by bank employees against the decision to privatize the banking sector. The United Forum of Back Unions (UFBU) along with nine banking unions will go on strike on the Monday and Tuesday against privatisation of public sector banks. Union representatives Sharif, Nagaraja, Basha, Nageswara Rao and others asked Srikanth Reddy to support the strike.

The United Forum of Bank Unions (UFBU) conducted an awareness campaign in Vijayawada against the decision of the Union Government and sought people’s support for the two-day strike.

UFBU convenor B.S. Rambabu apprehended that the safety of public money would be at stake and unemployed people would lose out after the privatization move.

Bank employees distributed pamphlets and explained about the need to save government sector banks.

Rambabu said that nearly 2,000 small, medium and big banks had shut down, including two premier private banks for varied reasons. He said that there were Rs 1.7 lakh crore in deposits in government sector banks and the corporate entities were targeting this money. He said private banks can go bankrupt but not government sector banks.

Bank employees would protest in front of Indian Bank at BRTS Road on March 15 and opposite Bank of Baroda the next day.

( Source : Deccan Chronicle. )
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