Insurance staff support bank unions' strike call

Hyderabad: The All India Insurance Employees' Association (AIIEA) on Monday extended support to two-day nationwide bank strike called by United Forum of Bank Unions (UFBU).

The strike has been called on December 16-17, to oppose the proposed privatisation of public sector banks, the Banking Laws (Amendment) Bill 2021 and demanding strengthening of public sector banks.

"The All India Insurance Employees' Association (AIIEA) supports the two-day strike of the bank employees and officers and calls upon insurance employees both in LIC and public-sector general insurance companies throughout the country to hold solidarity demonstrations during lunch recess on the first day of the bank strike i.e. on December 16, 2021," the insurance body said. The present government has embarked on a mindless pursuit of privatisation of public-sector industries completely oblivious to the national interests. Privatisation of PSBs has become an important element in the overall policy framework of the government. Privatisation of PSBs would not only be antithetical to the development of the nation, but it would also amount to handing over precious and hard earned savings of the people to the private corporate sector, AIIEA said.