Apart from AIBEA, other bank unions - AIBOA, BEFI, INBEF, AIRBEA, AIRBWF, Unions in RRBs, Unions in co-operative banks
also joined the strike.
Venkatachalam said that in spite of opposition from the unions, the government was going ahead with its policy of privatisation and unwarranted merger of banks.
He also said that instead of focussing on recovery of corporate bad loans, the government was giving concessions to corporates and increasing service charges for common people.
Unions' demands include strengthening of public sector banks
instead of their privatisation. Unions also oppose allowing corporate houses to promote banks, closure of bank branches and the amalgamation of Lakshmi Vilas Bank with DBS Bank. The unions have also urged the government to take action against 9,331 wilful defaulters, who alone owe Rs 1,22,018 crore to the country's lenders.
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