Employees and officers from 26 public sector banks, 12 old-generation private sector banks and eight foreign banks will observe an all-India strike on December 20 to protest the UPA Government’s move to push amendment to the banking laws.

The All-India Bank Employees’ Association (AIBEA), the Bank Employees’ Federation of India and officers’ unions such as the All India Bank Officers’ Association have called for a strike in which nearly 7 lakh bank employees and officers are expected to participate, said Vishwas Utagi, Secretary, AIBEA.

“The present generation of politicians must raise their voice in Parliament against the proposed amendments to the banking laws which are aimed at handing over Indian private sector banking to multinational banks and increasing the presence of Indian corporates and FDI in public sector banks,” said Utagi.

The proposed amendments to the banking law are aimed at effecting the merger of banks, allowing more private and foreign capital in banks, and upping the ceiling on voting rights. Further, the amendments will enable the central bank to grant licenses to corporate business houses to start their new banks.

“There is an attempt to close down rural branches and resort to a number of ultra small branches thereby privatising rural banking operations through contractual business correspondents and lack of stringent measures to recover increasing NPAs and bad loans,” said the trade union leader.

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