‘Interests of all staffers will be protected’: FM assures striking bank employees

Nirmala Sitharaman also said that the government will not privatise all PSU banks

About 10 lakh bank employees participated in the two-day nationwide strike that started on Monday (March 15). Pic: Twitter

Union Finance Minister Nirmala Sitharaman has assured striking bank employees that the government does not intend to privatise all Public Sector Undertaking (PSU) banks and that it accords utmost importance to the interests of all employees.

Speaking to media persons on the second day (Tuesday, March 16) of the two-day nationwide bank strike against privatisation, Sitharaman said, “The decision of privatization is a well thought out decision. We want banks to get more equity… We want banks to meet the aspirations of the country.”

“The interest of every employee will be protected at all cost in the banks that are privatised,” the Finance Minister said.

About 10 lakh bank employees participated in the two-day strike that started on Monday (March 15). The trigger was the Modi government’s plan to privatise two public sector banks to generate a revenue of Rs 1.75 lakh crore. The government is keen to execute the disinvestment plan before the end of 2022 fiscal.


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On Monday, Congress leader Rahul Gandhi took on the Centre for its divestment policy. He tweeted: “GOI (the Government of India) is privatising profit & nationalising loss. Selling PSBs to Modicronies gravely compromises India’s financial security. I stand in solidarity with the striking bank employees.”

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Sitharaman responded to Gandhi’s tweet, by saying: “Rahul Gandhi has probably outsourced his comments to outsiders. These two liners do not help. I would want him to engage in serious discussion… Rahul Gandhi should think, do homework first and then level allegations against us.”