News - Bank and airport strikes in India
Posted on April 14, 2008 in the Finance insurance category
backing for mergers.
Another 30,000 workers in 124 airports - opposed to privatisation plans - will also join in the day of action called by the United Forum of Bank Unions.
The All India Bank Employees Association (AIBEA), says mergers will shrink employment opportunities.
The finance ministry says state banks should merge to boost department of insurance and finance.
‘Social export finance and insurance
“There’s a need to expand branch network and not shrink them in the name of mergers,” Kamal Finance insurance job
, vice president of AIBEA told Reuters.
“The social objectives are being relegated to the background.”
State-run banks control more than 66% of India’s banking, however, although it is calling for mergers the government has said it will not privatise public sector banks.
It will also keep a majority stake in state banks, such as State Bank of India, Bank of India, Bank of Baroda, and Union Bank of India.
Private sector
The United Forum of Bank Unions is said to represents roughly 95% of the country’s 1.3 million bank and insurance workers.
A previous stoppage in March saw one million workers go on strike, and it is predicted that some staff at private and foreign banks may also join the stoppage.
Union members are threatening to disrupt all services at airports, except air traffic control.
However state-run domestic carrier Indian Airlines does not expect any major disruptions.
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