Indian Bank’s employees and officers may observe a strike on December 20 to protest against the government’s move to push amendments to the banking laws. This is pursuant to the All-India Bank Employees’ Association (AIBEA), the Bank Employees’ Federation of India, the National Union of Bank Employees and the All India Bank Officers’ Association who have given a call for observance of one day country-wide strike in banks on December 20, 2012 in support of their demands.
If the strike materializes, in such case, the normal functioning of the branches / offices of the Bank may get affected. Nearly 7 lakh bank employees and officers are expected to participate.
The proposed amendments to the banking law are aimed at effecting the merger of banks, allowing more private and foreign capital in banks, and raising the ceiling on voting rights. Further, the amendments will enable the central bank to grant licences to corporate business houses to start their new banks.
Indian Bank is a mid-sized government bank with over 1,860 branches across India, one branch in Singapore and two in Sri Lanka. It has a particularly strong presence in Tamil Nadu.
