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Bank staff strike against Nayak panel suggestions

Various bank employees’ unions have given a strike call on 23 May against the recommendations of the P.J. Nayak committee on corporate governance in public sector banks. The unions feel they would oppose any attempt to privatize state-run banks. The P.J. Nayak committee, appointed by RBI, had suggested that the government should cut its holding in public sector banks to below 50%. According to a spokesperson of the Maharashtra State Bank Employees’ Federation, five national organizations representing 10 lakh bank employees and officers will oppose the Nayak committee recommendations which he said are aimed at destroying the character of public sector banking. The five bank associations are the All India Bank Employees’ Association (AIBEA), All India Bank Officers’ Association (AIBOA), Bank Employees’ Federation of India (BEFI), Indian National Bank Employees’ Federation (INBEF) and Indian National Bank Officers’ Congress (INBOC). These unions plan to hold protest demonstrations across the country on 23 May.

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