Bank employees going on two day strike against merger of public sector banks..

The Bank employees are going on a two day strike on 31st January and 01st February, 2020, under the banner of the UFBU. This strike is taking place against the mega mergers of public sector banks, reducing their numbers from 27 to 12 and also demanding wage settlement which has become due on 01st November, 2017. Big corporates are taking huge loans and cheat the public sector banks, without making payments. Instead of taking stringent actions, government is writing them off as bad loans. Rs.5.8 lakh crore bad debts have been written off in the recent past. These bad debts are the reason for the declining health of the public sector banks. Instead of recovering the bad loans, the government is resorting to the merger of public sector banks, which is widely being conceived as the step towards privatisation of the public sector banks. BSNLEU expresses it support and solidarity to the two day strike of bank employees.