CPI(M) extends support to strikes of bank and insurance employees

‘Privatisation of banks will lead to stoppage of loans to the priority sector’

The CPI(M) district committee has extended total support to the strike proposed by the United Forum of Bank Employees (UFBU) on March 15 and 16 as also the strike by the employees of General Insurance on March 17 and by the LIC employees on March 18 to oppose privatisation.

In a statement issued here on Saturday, CPI(M) district secretary K. Lokanadham noted that the 12 nationalised banks in the country were reduced to four through mergers by the Union government. It had also proposed privatisation of three nationalised banks — Bank of Maharashtra, Bank of India and Central Bank of India, he alleged. Demanding revocation of the decision, he said that the privatisation of banks will lead to stoppage of loans to the priority sector.

Withdrawal of big notes by the Centre and GST had already hit the priority sectors, he said.

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