PNB Employees
to strike work on March 7
Our Banking
Bureau
26 February 2005
Kochi:
Punjab National Bank Employees Union (PNBEU) on Thursday said it will join
the all India strike called by its federation on March 7 in protest against
the management's move to enter market with second public offering of 80
million shares.PNBEU
Kerala chapter general secretary Varghese Raju told reporters that the decision
to join the all India strike was taken in the backdrop of a resolution passed
at the meeting of the All India Bank Employees Association at Hyderabad
and ratified by the Punjab National Bank Employees Federation to boycott
the banking operations whenever the management goes for public issues.
Describing
the move as 'anti-worker'' and against the promises made in the Common Minimum
Programme, he said the management's decision to go public on March 7 shedding
23 per cent more shares would lead to large scale retrenchment in the banking
sector and against the interests of the common man.
The
United Forum of Bank Unions comprised nine all-India level Bank Unions.
These are All India Bank Officers' Confederation (AIBOC), All India Bank
Officers' Association (AIBOA), National Organisation of Bank Officers (NOBO),
All India Bank Employees Association (AIBEA), Indian National Bank Officers'
Congress (INBOC), Indian National Bank Employees Congress (INBEC), National
Organisation of Bank Workers (NOBW), Bank Employees Federation of India
(BEFI) and Confederaiton of Bank Employees (NCBE) which also had given a
call for an all 
India
strike on March 22 against the government's move to encourage mergers and
acquisitions in the banking industry.
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