Vijayawada: Canara Bank Employees Union opposes privatization of public sector banks

Vijayawada: Canara Bank Workmen Employees Union (CBWEU) All India General Secretary Suresh Kumar Sangtani demanded that Prime Minister Narendra Modi should clarify the Central government’s decision regarding privatisation of the banking sector. He warned that if the Central government moves the bill in the Parliament session in this regard, the United Forum of Bank Unions (UFBU) will go on indefinite strike. Suresh Kumar Sangtani participated in the union’s 16th State conference at Amma Kalyana Mandapam here on Sunday. Addressing the gathering, Suresh Kumar alleged that Prime Minister Narendra Modi was trying to reduce Public Sector Banks and at the same time trying to privatise them. It will cause severe damage to the country and as well as people, he informed. Informing that public sector banks have opened many JDB accounts and serving the people, he demanded the Central government to disclose how many Jan-Dhan Bank accounts were opened in private banking sector. The Central government must withdraw its decision of privatisation of these banks since the banks may not permit these accounts if privatisation takes place, Suresh Kumar suggested. All India Bank Employees Association (AIBEA) secretary BS Rambabu warned the Central government that UFBU will launch indefinite strike if it don’t withdraw its decision of privatisation of banking sector. If the BJP-led Central government decides to privatise banks, bank employees would cast a vote against the government, he warned. He gave a clarion call to all the bank employees to vote for the parties, who oppose privatisation of public sector banks in the coming Lok Sabha Elections in 2024. They would support those political parties that will give assurance for not privatising the banks, he added. Canara Bank Vijayawada Circle General Manager P Ravi Varma emphasised that all 85,000 bank employees are the bank strength. With their cooperation, bank opened around 7,000 JDB accounts and earned approximately Rs 25,000 crore deposits, he said. He lauded the dedicated work of the bank employees and with the great support of them, the bank has earned Rs 10,500 crore in profit in the financial year 2022-23. Also, the bank is getting Rs 3,500 crore in profit in the present financial year, Rambabu said. CBWEU AP State Committee Chairman C Srinivasulu Reddy, CBWEU Vice-President JP Sarma, reception committee Chairman Y Pushkarendra Babu, union state secretary Bommadevara Vadayavarlu, Treasurer T Srinivas Raju and other leaders participated.