Banks and Insurance Companies Union to protest against government policies

The unions are protesting against the Financial Resolution and Deposit (FRDI) Bill, privatisation of banks, disinvestment in General Insurance Corporation of India(GICRe), outsourcing of jobs in banks and other state-run insurance players and FDI

Banks and Insurance Companies Union to protest against government policies

Representational Picture

Employee unions of banks and state-run insurance companies will stage a sit-in at Azad Maiden in the city tomorrow to protest against privatisation of banks, allowing foreign direct investment (FDI) in the insurance sector and to expedite wage revision.

The protest is called by the Co-ordination Committee of Bank, Insurance and Financial Sector Unions (CCBIFU), a joint platform of unions - All India Bank Employee Association (AIBEA), All India Banks Officers Association (AIBOA) and All India LIC Employees Federation (AILICEF), a release from CCBIFU said today.

Employee unions from General Insurance Corporation of India (GIC Re), New India Assurance and United India Insurance are also participating, it added.

"Since the present political dispensation at the centre is implementing anti-people and anti labour policies, unions operating in the financial sectors have come together to raise the fight against these policies," CCBIFU said.

The unions are also demanding expedition of wage revision process and adequate recruitments at banks and government-owned insurance companies.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels