All India Bank Strike on September 24 and 25

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All India Bank Strike on September 24 and 25Banks unlikely to raise rates: PNB chiefBank strike on two days this week

Kochi, September 16:: United Forum of Bank Unions (UFBU) Kerala unit, as part of the two-day nation-wide strike on September 24 and 25, would stage demonstrations for three days from September 17 in front of bank branches in the state.

Speaking to reporters in Kochi on Tuesday, V J Johny, convener UFBU, Kerala State, said UFBU consisting of 10 lakh bank employees and officers will participate in the strike.

Their demands include stopping merger of public sector banks and privatisation and rejection of recommendations of Raghuram Rajan Committee and Anwarul Hoda Committee.

Privatisation of public sector banks would result in stopping priority sector loans to agriculture, small and medium industries, rural development, poverty alleviation and employment generation, he said.

Johny alleged that the Government and bank managements wants the merger of 25 public sector banks into five or six in the name of global competition. India needs more bank branches and expansion of banks and not consolidation, he said Detailing the danger of unrestricted Foreign Direct Capital in Bank, he said this will instantly make our banks vulnerable to be taken over by foreign capital, he said.