Govt Bank Employees Will Have Only 1-Year Job Guarantee After Privatization?

Government Employees To Have Only One Year Job Protection

Recently the Niti Aayog had finalised the names of the public sector banks that will be put up for privatisation in the current fiscal under government’s plan of the disinvestment process. 

And now, the think tank has suggested that the employees of these nationalized banks should be given job protection for a year. 

This proposal has already been put forth to the Union Ministry of Finance and the final call will be taken by the ministry itself. 

On March 15 and 16, about 10 million bank employees participating from nearly 9 bank unions conducted a two-day bank strike, in response to the government’s decision of privatizing two more public sector banks besides IDBI bank.

Heavy losses were incurred due to the two day bank strike, with about Rs 16,500 crore affected due to clearance of cheques and payment instruments only on the first day of the strike.

Bank unions have now come forward and informed that if the government does not take back its decision on privatising 2 more public sector banks, it will continue to hold more strikes.