AROUND 10 lakh employees and officers observed two-day countrywide bank strike on December 16-17, 2021 at the call of the United Forum of Bank Unions (UFBU), an umbrella of the unions/associations of the banking industry. The strike was observed to oppose listing of Banking Laws (Amendment) Bill 2021 in the business schedule for ongoing winter session of the parliament to facilitate privatisation of public sector banks as announced by the union finance minister during presentation of budget for 2021-22. Following the announcement, the UFBU observed a two-day bank strike on March 15-16, 2021.

Upto December 15th evening, the unions were participating in the conciliation meeting convened by the additional chief labour commissioner during which the IBA and finance ministry representatives were appealing to defer the strike. We had also indicated to them that if the government could give an assurance that the bill would not be introduced in the parliament, UFBU would be inclined to reconsider the strike.  But they did not come forward with any such assurance and thus the strike action was forced on us.

There is no need to elaborate here about the reasons for our opposition to the moves of privatisation of public sector banks. From the UFBU we have been consistently expressing our opposition to attempts of privatisation of banks as the same is neither in the interest of our economy nor in the interest of the workforce. 

Further, our experience in the past has been bitter about the track-record of many private banks which had collapsed due to mismanagement and financial irregularities.  We also know that the huge problems faced by the banks on account of bulging bad loans are attributable to the deliberate default of loans by the private corporates. 

On the other hand, the contributions of the public sector banks have been invaluable and highly commendable.  Hence UFBU is of the considered view that privatisation of banks is a retrograde measure.

The two-day bank strike was preceded by various programmes like dharnas in state capitals and other places; postering; signature  campaign; badge wearing; mask wearing; holding rallies; twitter campaigns; press conferences by which the issues and reasons of the strike call were taken to common people including our customers. The bank employees, in huge numbers took part in all the preparatory programmes throughout the country with determination. Mammoth rallies of the striking employees were held on the strike days at different centres. The customers and a sizable section of media extended support to our movement.

The employees of Reserve Bank of India, across the country, held lunch time gate meetings on both the days in support of the bank strike at the call of the All India Reserve Bank Employees Association and All India Reserve Bank Workers Federation. At the call of the All India Nabard Employees Association, the employees of Nabard held lunch hour demonstrations at all centres expressing solidarity to the movement.

All India Insurance Employees Association organised countrywide protest demonstrations in opposition to the proposal of privatisation of PSBs expressing support and solidarity. The Confederation of Central Government Employees and Workers, BSNL Employees Union, All India State Government Employees Federation, All India Defence Employees Federation have extended fraternal support.

World Federation of Trade Unions (WFTU) has expressed international solidarity with the strike call.

We are thankful to all the Central Trade Unions – INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, AICCTU, SEWA, LPF, TUCC, BKS – who have extended their support to our demands and struggle.  Support and solidarity was extended by the Samyukta Kisan Morcha. 

We are equally thankful to all the political parties, Congress, DMK, AITC, Shiv Sena, NCP, CPI, CPI(M), VCK, YSRC, TRS, RSP, AIFB, CPI(ML-L), and all others for their support to our cause. Similarly, we express our thanks to all the members of parliament who took up the issue in the parliament and also addressed letters to the prime minister and the finance minister in support of our demands.  We are thankful to the MPs belonging to the Left Parties and others who staged a demonstration  inside the parliament campus in support of our strike. Our thanks are also due to all the various eminent personalities who expressed their support and endorsed their views in favour of our demands.

Our strike had impacted the functioning of the banks in a big way. Most of the branches remained closed.  Clearance of cheques in three grids across the country was also severely affected.  While we regret the inconvenience caused to the banking public due to this strike, we are sure that they would appreciate that the strike was forced on us due to the negative attitude of the government in averting the strike. We are also sure that the people at large would appreciate that our strike was in defence of public sector banking and to prevent privatisation of our banks.

The government of India, even after the two-day strike in March, obstinately continued to push through its decision of privatisation of PSBs as part of its spree of privatising public sector enterprises for the benefits of handful corporates. Bank Employees Federation of India congratulates employees and officers of the banking industry for observing the strike successfully; the joint platform of CTUs and fraternal organisations for extending support and the common people and customers for supporting the strike. BEFI appeals to all stakeholders to continue their opposition to the privatisation moves of the government in future also. UFBU will meet shortly to take note of the developments and decide our further course of action.