Bank employees across the country will participate in the nationwide general strike on 9th July, called by major trade unions to oppose what they describe as anti-people economic policies and anti-worker labour reforms pushed by the Union government. The strike call has been given jointly by the All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA), and Bank Employees Federation of India (BEFI), with participation from employees of public sector, private sector, cooperative, regional rural, and foreign banks.
In a
statement, CH Venkatachalam, general secretary of AIBEA, says the strike is being held to protest the growing economic inequality in the country and a policy environment that favours corporate interests while marginalising the working class, particularly in the financial and agricultural sectors.
The protesting unions argue that current economic strategies are leading to massive concentration of wealth in the hands of a few corporates, while pushing large sections of the population further below the poverty line.
“The claim that India is growing fast is hollow when the rich alone benefit. More tax concessions are being extended to corporates, while the poor are crushed under rising costs and shrinking wages,” Mr Venkatachalam says.
The bank unions are also raising serious concerns about rising unemployment, declining job creation and the trend of replacing permanent posts with contractual and fixed-term employment. They allege that the government's labour reforms have stripped workers of vital protections, allowing for longer work hours, suppression of union rights, and dilution of the definition of a ‘worker’ to exclude millions from labour benefits.
The protest will also spotlight the rising cost of living, with essential commodities becoming unaffordable due to unchecked inflation and the blanket application of goods and services tax (GST). “Even minimum wage is not assured. Existing jobs are vanishing, while working hours are being stretched in the name of productivity. What is being proposed now is not reform but exploitation,” Mr Venkatachalam added, citing corporate leaders' recent calls for 70- to 90-hour work weeks as part of a dangerous trend that prioritises profits over human welfare.
Bank unions are particularly agitated over the Union government's aggressive push for privatisation in the public sector, including banks and insurance companies. They warn that privatising institutions that handle over Rs140 lakh crore in public deposits poses grave risks to national financial stability and public trust.
The unions see the weakening of trade union rights and implementation of the new labour codes as part of an attempt to create a 'union-free India' in favour of employers and foreign investors. “This is not about development. This is about dismantling every safety net that the working class has earned through decades of struggle,” says Mr Venkatachalam.
The agricultural sector will also be a key issue in the 9th July strike, with unions expressing solidarity with farmers who are demanding guaranteed minimum support prices and protection from corporate hoarding and profiteering. “Agriculture, once the backbone of our economy, is now in deep crisis. Instead of empowering farmers, policies are facilitating corporate takeover of produce and profits,” the AIBEA chief said.
The strike has garnered broad support from central trade unions including: Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), Hind Mazdoor Sabha (HMS), Centre of Indian Trade Unions (CITU), All India United Trade Union Centre (AIUTUC), Trade Union Coordination Centre (TUCC), Self Employed Women's Association (SEWA), All India Central Council of Trade Unions (AICCTU), Labour Progressive Federation (LPF) and United Trade Union Congress (UTUC), as well as from peasants, agricultural workers, and various independent federations.
In the financial sector, the strike will see participation from employees and officers in public sector banks, Life Insurance Corp of India (LIC), GIC, cooperative banks and regional rural banks. Unions like All India Insurance Employees' Association (AIIEA), General Insurance Employees All India Association (GIEAIA) and All India LIC Employees' Federation (AILICEF) and supporting federations such as All India Bank Officers Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers Association (AIBOA), Bank Employees Federation Of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), have either joined or extended solidarity with the strike.
As banks are expected to remain shut or operate with minimal staff, public sector and private customers are likely to face disruptions in services. Union leaders have appealed to the general public to support their struggle, framing it as a fight not only for workers’ rights but also for protecting national resources from corporate capture.
“This strike is not just about wages or working hours. It is about saving the public sector, preserving democratic labour rights, and ensuring equitable economic growth. We ask citizens to stand with us in this struggle,” says Mr Venkatachalam.
