Workers of different sectors support bank workers’ struggle against privatisation of public sector banks


United Forum of Bank Unions,

We, the undersigned Federations of unions, unions, associations of workers of different sectors and people’s organizations extend our wholehearted support to your just struggle against the proposed privatisation of two public sector banks. We wish complete success to your proposed all India strike on 15 and 16 March 2021.

The privatisation of public sector banks is an anti-worker, anti-people and anti-social step.

Time and again, we workers have found that the privatisation of a PSU has led to hundreds of workers getting thrown out of their jobs. Privatisation has also led to higher and higher use of contract workers who are employed at one-third to one-fourth the wages of regular workers. After privatisation, both permanent and contract workers are made to work longer hours without overtime. Existing unions are busted by new capitalist owners and new workers are not allowed to organize themselves. The anti-worker step of privatisation thus weakens the entire working class.

Security of our savings, deposited in banks, is most important for people of the country. Recent problems with private banks like IndusInd Bank, PMC Bank, etc. have created serious concerns about solely profit driven private banks. Proposed privatisation of two large public sector banks is totally against the interests of people.

Privatisation is anti-social, too. Banks will no more be run for fulfilling social needs but purely in pursuit of private profit. After private banks entered the field, banking services have become much more expensive. Many people will soon find services unaffordable.

The public sector banks have been built with the toil of lakhs of workers over decades using public funds. They are property of the people and must be used to fulfil needs of workers and all other toilers and for their welfare.

Along with privatisation of Public sector banks, the Central Government has declared an all out war on all public sector enterprises and wants to hand over the precious assets built with  Indian peoples money and sweat to private monopolies, both Indian and Foreign. It is only the united struggles of all of us that can stop the Government. At the same time we all must mobilise the consumers of the services we provide, to join as in our fight against the privatisation policies. The bank workers are doing this very well and a united front of workers, farmers and the toiling people is the way forward for all of us!

We appreciate your efforts to create awareness among users of banking services about the ill effects of privatization of banks. We too will carry your awareness campaign among our members, their families and people at large as they all are customers of banks. We fully support your slogan “People’s Money for People’s Welfare” and we are in complete solidarity with your struggles. An attack on one is an attack on all!

Yours in solidarity,

  1. Air India Service Engineers Association (AISEA),
  2. All India Coal Workers Federation (AICWF- CITU),
  3. All India Defence Employees Federation (AIDEF),
  4. All India Guards Council (AIGC),
  5. All India Insurance Employees Association (AIIEA),
  6. All India Loco Running Staff Association (AILRSA),
  7. All India Port and Dock Workers Federation (AIP&DWF-HMS),
  8. All India Power Engineers Federation (AIPEF),
  9. All India Railwaymen’s Federation (AIRF),
  10. All India Railway Employees Confederation (AIREC – Western Zone),
  11. All India Rail Trackmaintainers Union (AIRTU),
  12. All India Station Masters Association (AISMA),
  13. All India Train Controllers Association (AITCA),
  14. Cochin Refinery Employees Association (CREA-INTUC),
  15. General Insurance Employees All India Association (GIEAIA),
  16. Hind Khadan Mazdoor Federation (HKMF-HMS),
  17. Indian Railway Loco Running Man Organisation (IRLRO),
  18. Indian Railway Ticket Checking Staff Organisation (IRTCSO),
  19. Kamgar Ekta Committee (KEC),
  20. Ladaku Garment Mazdoor Sangh (LGMS),
  21. National Federation of Indian Railwaymen (NFIR),
  22. Petroleum and Gas Workers Federation of India (P&GWFI),
  23. Port, Dock and Waterfront Workers Federation of India (PD & WWFI-AITUC),
  24. Steel Plant Employees Union (SEU-CITU) – Rashtriya Ispat Nigam Limited,
  25. Water Transport Workers Federation of India (WTWFI-CITU).




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