Bank employees staged demonstration in Mandsaur on Monday
Bank employees staged demonstration in Mandsaur on Monday

Mandsaur (Madhya Pradesh): Key banking operations here were impacted on Monday as nine unions called for a two-day nationwide strike against the proposed privatisation of public sector banks and retrograde banking reforms.

As many as 10 lakh bank employees are expected to participate in the strike called by the United Forum of Bank Unions, an umbrella body of nine bank unions. Banks across the country were closed on Saturday and Sunday and will not open on Monday or Tuesday due to the strike, leading to a four-day halt of services.

In Mandsaur, bank personnel raised slogans and demonstrated outrage at Gandhi square during the strike. People faced difficulty as they couldn’t carry out financial transactions.

Addressing the demonstration, bank union members said that despite the fact that public sector banks are making unprecedented contribution to Indian economy and are giving earnings to government, privatisation efforts seem to fulfill the objectives of the capitalists under a well-thought out strategy. Bank workers will not let their intentions succeed.

Union members also said that bank privatisation would prove to be fatal not only for the economy, but also for the general public. There is a danger of private banks shutting down at any moment, due to which there is always a danger of sinking the hard earned deposits of common people. Not only in India, numerous private banks all over the world collapsed like playing cards and with the capital accumulated in them, their dreams also came to an end.

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Free Press Journal