Around ten lakh employees from all nationalized government banks, domestic and international private banks, cooperative banks and regional rural banks will strike work on August 5. A release from The Maharashtra State Bank Employees Federation says that the strike is not for any financial demands but for pending demands of the employees. The federation - demands not to privatize public sector (nationalized) banks, not to reduce central government’s share capital in public sector banks, not to take World Bank loans for fulfilling capital requirements in public sector banks, opposes merger of five banks in the SBI group with SBI. The federation also says that it would not be in public interest to allow uncontrolled access to foreign capital in banking industry and has demands not to cancel Section 12 ( 2) of the Banking Regulation Act because of which foreign banks are bound to takeover the private banking sector.
FPJ
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