The Hindu Business Line : UFBU plans stir against outsourcing

The United Forum of Bank Unions (UFBU) has decided to launch an agitation against outsourcing of services by banks, including the Reserve Bank of India.

A mass rally by bank employees would be organised in May at Delhi during Parliament session. Strike action would also be contemplated, Mr C.H. Venkatachalam, Convenor, UFBU, said today.

Mr Venkatachalam questioned the need for the RBI to privatise clearing operations and transfer the service to the National Payment Corporation of India. He said privatising clearing operations would give rise to questions of breach of privacy in financial matters of individuals.

Asked if there was the possibility of nationalised banks' employees also asking for higher pension payouts, Mr Venkatachalam replied in the negative.

He said, "SBI's case was different. They are governed by a different agreement. There is no fall-out of this settlement on nationalised banks".

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