Jammu and Kashmir Trade Union protest in Srinagar

SRINAGAR: Jammu and kashmir Floriculture workers association protest in Srinagar on Wednesday 2 September 2015.

The nationwide strike in the banking and insurance sector on Wednesday has begun on a very encouraging note signifying total success, a top leader of the All India Bank Employees’ Association (AIEBA) said.

“The strike has started on an encouraging note across the country as per initial information we got. Employees of Reserve Bank of India (RBI), nationalised banks, old private sector banks, cooperative banks, regional rural banks are participating in the strike,” AIEBA general secretary C.H. Venkatachalam told IANS.

According to him, strike is a success in major cities like Mumbai, Delhi, Chennai and Kolkata.

Across the country around 500,000 bankers – workers and officers – would be participating in the strike. Around 75,000 branches will not work.

Complaining of increasing attacks on the rights and privileges of workers and concessions being extended to the employers, Venkatachalam said there are open attempts to amend labour laws in favour of the employers and to the detriment of the workers.

The neo-liberal economic policies are only aggravating the problems of the workers and common masses.

Venkatachalam said in the banking sector, there are continuous attempts to push through the reforms agenda aimed at privatisation of banks, consolidation and merger of banks and others.

“More and more private capital and foreign direct investments are being encouraged. Private sector companies are being given licences to begin banking business,” he said.

“Perhaps it shows their imperial attitude,” a union official told IANS preferring anonymity and punning on SBI’s earlier name Imperial Bank.

“All the major recognised unions representing Class III and IV employees in Life Insurance Corporation of India (LIC) and four government owned non-life insurers are participating in the strike,” J.Gurumurthy, vice president, All India Insurance Employees Association (AIIEA) told IANS.

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