AIBEA to start protest action in July
Coimbatore: The All India Bank Employees Association (AIBEA) at its General Council Meeting last week have decided to express discontent over the Government's stance on privatisation of banks, outsourcing of banking activities and recruitment through campaigns and struggles including repeated strikes. The unions have planned to demonstrate and organise rallies and meetings from the first week of July before culminating into an All India strike on August 1.

C.H. Venkatachalam, general secretary of the AIBEA, has accused the Government of encouraging and forcing banks to go for further IPOs with the intention of reducing the Government's stake and pushing banks to virtual privatisation. He demanded withdrawal of the proposed deletion of Section 12(2) of the Banking Regulations Act on voting rights in banks.

Expressing concern over the RBI's instructions on outsourcing of banking activities, he said the move would jeopardise the employees' job security. The AIBEA has also condemned the attempts of the management to bypass the unions by violating settlements.
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