Banks in Manipur were today shut down and staged sit-in in front of the SBI Imphal office showing solidarity against privatisation of banks.
The protest in Imphal was spearheaded by United Forum of Bank Unions, Manipur state committee.
“People’s money for the people’s welfare, not for corporate loot” was the slogan of the bank employees in the protest.
The forum was of the opinion that the hard earned people’s savings have been exposed to unscrupulous loot by the corporate houses in the name of Bank reforms, which created a figure of 15 lakh crore Rupees for unpaid loans.
Instead of taking up measures to recover the loans the government is planning to privatise the banks and proposed to merge weaker banks with the stronger banks, says the forum members.