One mn bank staff to go on strike on August 22 over privatisation, mergers

UFBU strike call also due to write-off of corporate NPAs, criminalisation of willful default

Around one million bank employees and officers will go on strike on August 22, following a call by the United Forum of Bank Unions (UFBU), which consists of all the nine bank unions.

The UFBU is criticising the government's decision to privatise public sector banks, mergers and consolidation of banks, and write off corporate Non-Performing Assets(NPAs) and demanding to declare willful default of bank loans as a criminal offence, implement recommendations of the parliamentary committee on the recovery of NPAs.

The Union also wants the government to ensure accountability of top Management/executives for bad loans and put in place stringent measures