60k bank workers in state to strike work over privatization | Ahmedabad News

Ahmedabad: Some 60,000 employees of public sector banks (PSBs) from across Gujarat will protest the proposed privatisation of PSBs. Bank employees will join the nationwide strike call proposed by All india Bank Employees’ Association (AIBEA) along with other bank unions.
At least 5,000 PSB branches are expected to remain shut, thus impacting transactions to the tune of Rs 20,000 crore over a two-day period on Monday and Tuesday. Bankers claim that privatisation of PSBs is not in public interest.
Explaining this, Janak Rawal, general secretary, Maha Gujarat Bank Employees’ Association (MGBEA), said, “Private banks are only concerned with profits and are not bound by any social priorities. Various social objectives of the government aimed at financial inclusion and easing of credit are addressed by PSBs and not private banks. A clear case in point in Jan Dhan Accounts wherein at least 33 crore accounts were opened in PSBs whereas merely 1.25 crore were opened by private banks.”
“Privatization of banks will also mean increase in minimum balance limit on various accounts and customers will be forced to pay more. Interest on deposits will also decline and subsidized loans will also be stopped, especially for priority sector. Moreover, overall opportunities for employment in the banking sector will also significantly go down” said Rawal.
MGBEA officials indicated that even as bankers are going on strike, it is in the interest of public and public money. MGBEA officials also mentioned that after privatization, in the name of cost cutting, several branches will be closed. Today in Gujarat there are nearly 4,900 PSBs that have been shut.