'Financial sector to be hit during two-day bank strike'

Last Updated: Thu, Feb 14, 2013 16:30 hrs

Mumbai, Feb 14 (IANS) India's entire banking and financial sector will be paralyzed as over 1.5 million employees join the all-India strike scheduled Feb 20-21, a bank employees union official asserted Thursday.

Employees of Reserve Bank of India, NABARD, 27 nationalized banks, 18 private banks, 12 foreign banks, 46 regional rural banks and 1,600 urban co-operative banks, besides LIC, GIC and other financial institutions will join the two-day action, said All India Bank Employees Association's Maharashtra unit general secretary V. Utagi.

"This will be biggest-ever joint action by 45 top trade unions across the political spectrum in recent years and will signal to the world that trade unionism is not dead in India," Utagi told IANS as hectic preparations were underway to make the agitation a success.

The strike has been called to oppose to foreign direct investment (FDI) in all sectors, privatization, contractual appointments, inflation, corruption and other key issues confronting the people of the country.

The two-day strike in Mumbai will be preceded by a long march Monday (Feb 18) in south Mumbai which over 200,000 people are expected to take part.

Mumbai, the country's financial capital, will be particularly hit hard next week starting with Monday's long march, Tuesday being a public holiday on account of Shivaji Jayanti followed by the two-day strike.

According to Utagi, public transport including cabbies and buses, the Mumbai Port Trust and other major organizations will take part in the strike.

He said that the strike will see the participation of over 50 crore, including members of all trade unions and other employees in the private sector, farmers and labourers across different sectors.

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