Two-day strike by banks from tomorrow

 Commercial activities across the country are likely to be hampered on Wednesday and Thursday as employees of the entire banking industry are slated to go on a two-day strike from August 22. "Over a million employees and officers of 27 public sector banks, 12 old-generation private banks and eight foreign banks will take part in the strike," said secretary of All India Bank Employees' Association Vishwas Utagi. 

    Their protest is against the government's move to amend the banking laws bill, presently pending before Parliament and scheduled for discussion on August 23 and 24. 
    Utagi said the proposed amendments in the Banking Regulation Act, 1949, andBanking Companies' Acquisition and Transfer of Undertakings Act are aimed at handing over the Indian private sector banking to multinational banks. "It also aims at increasing the presence of Indian corporate and foreign direct investment in public sector banks," he said. 
    The outcome of these proposed measures will be closure of rural bank branches, resorting to a large number of ultra-small branches, thereby privatising rural banking operations through contractual businesses, he claimed. 
    The strike will also oppose outsourcing of work to outside agencies, and other antilabour policies, jeopardising jobs in the banking sector and aimed at undermining the collective bargaining strength. During the strike, bank employees plan to take out a procession to Azad Maidan in support of their demands.

The protest is against the government's move to amend the banking laws bill