Banking operations were paralysed in Public Sector Banks (PSBs) across the old undivided Khammam district on Monday, on the first day of the two-day strike launched by the employees owing allegiance to the constituent unions of the United Forum of Bank Unions (UFBU).
The UFBU has called for a two-day nationwide strike on Monday and Tuesday in protest against the Central government’s proposal to privatise two PSBs. The employees of various PSBs staged dharnas and rallies in Khammam, Kothagudem and several other parts of the erstwhile composite Khammam district. In Khammam, bank employees owing allegiance to the Union Bank Award Employees’ Union staged a demonstration holding placards. The placards read, “Bank privatisation means less agriculture and MSME loans” and “Bank privatisation means more urban orientation of banks.”
The employees of regional rural banks (grameen banks) owing allegiance to the UFRRBU and AIRRBEA organised a dharna in front of the Grameena Vikas Bank branch in Wyra town.
Addressing the dharna, the speakers denounced the Centre’s reported proposal to privatise the PSBs saying the “detrimental move” will deprive farmers, women self-help groups and poor people of rural credit, subsidised and interest-free loans. The State-owned lenders are playing a pivotal role in promoting financial inclusion and improving access to banking services in rural areas, they noted, alleging that the “profit driven” private banks will serve the interests of big corporates.
They deplored that the privatisation move will result in exorbitant interest on loans, conversion of permanent jobs into contract jobs, and lack of proper security to the hard-earned savings of people.
Telangana Rythu Sangham district president B Rambabu, CITU leaders S Sudhakar, T Nageswara Rao and others expressed their solidarity with the bank employees’ agitation.