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Bank, insurance firm unions threaten nationwide stir over govt policies

T E Narasimhan/Chennai 12 Jul 18 | 09:46 AM

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Unions representing banks and insurance companies have formed a coordination committee, threatening to hold demonstrations and strikes starting August if their demands are not met.

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AIBEA General Secretary C H Venkatachalam is the Chairman of this committee. GIEAIA General Secretary K Govindan is the Convener.

Increasing attacks in the banking and insurance sectors were the main trigger to form the Coordination Committee of Bank, Insurance and Finance Unions, Venkatachalam said. 

All India Bank Employees Association, All India Bank Officers Association, General Insurance Employees All India Association and All India LIC Employees Federation are part of this committee.

The committee has decided to organise dharnas in all state capitals on July 14.

The unions are protesting against bank privatisation, GIC disinvestment, FDI in banks and insurance and the FRDI Bill.  They want recruitments in banks, LIC and GIC, and the end to outsourcing and contractual jobs.

"If the government does not revise its policies on banking and insurance sectors and continues with its existing policies, the CCBIFU will decide to go on a strike during the winter session of Parliament in December 2018," said Venkatachalam.

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