All India Bank Officers Association(AIBOA) holds demonstrations as part of strike on 28 & 29th March

Chennai, March 28, 2022: All India Bank officers' Association (AIBOA), having officers membership in Public, Private, Regional Rural and Co-operative Banks, is observing the strike on 28th and 29 March 2022 to Save the Nation, Save jobs and Jobs security for the total workforce in the Industry.

Youtube Video:

As part of the strike, AIBOA today held demonstration in front of IDBI Bank, Zonal Office, Guindy under the guidance of General Secretary V.Ramabadran and President Ganesan. Bank officers participated in the demonstration and raised slogans in support of the their demands.

General Secretary V.Ramabadran spoke to the Reporters and said as below: The strike is forced upon us by the Government at Centre, in spite of our convincing arguments, failed to get the firm assurance to halt the Privatisation of Public Sector Banks and Sale of IDBI to private players. Today the financial system have a business mix of Deposits of Rs 155 lacs crores and advances of Rs 107 lacs crores amounting to Rs 262 lacs crores. The Public Sector Banks have nearly 63% share in the total business mix. The Public Sector Banks' role in opening of accounts "jandhan" accounts totaling to nearly 45 crores of accounts and amount of deposit collected was more than Rs 1 lac crores. The workforces have been recognized as Front Line Warriors the Parliamentary Committee for the services rendered during the covid 19 periods.

IDBI, established as a Developmental Financial Institution (DFI), in 1964 by Central Government and effectively assisted by RBI. Due bad loans, the 58 years old Institution is sold to private players. 315 borrowers are owing Rs 19300/crores nearly. LIC and Government own 98% share in the capital. The Government of India is pulling down this public sector Bank of 58 years old to dust. Government of India is also floated another Financial Institution to lend money to Infra project too. We stoutly oppose the move.

India Bank Association (IBA) entered into an agreement on 04th Jan,2021 on non financial demands consisting of 5 day banking, up-dation of Pension as that of the Child Care leave, scrapping of New Pension Scheme and restoring the old defined pension scheme and rectify the anomaly of Dearness Allowance between LIC and Banking workforce.

AIBOA is a part of the working-class movement. Naturally, we extend solidarity to striking workforce in opposing Economic and labour polices pursued by the present Government at the center.

We are conscious of the problems faced by the customers. We seek your support as we are fighting to save the Nation, Saving the jobs and job security. Our strike is to secure the future for the GEN NEXT.

****