Chennai: Public and private sector bank employees have decided to observe a day-long strike on 29 July to oppose the “anti-people" banking reform policies of the centre, the All India Bank Employees’ Association (AIBEA) said on Wednesday.

The United Forum of Bank Unions (UFBU) comprising nine trade unions across the country representing 10 lakh bank employees and officers would observe the strike.

They are pressing for various demands including not to privatize public sector banks and increasing private capital in such banks, and also protesting against foreign direct investment in the banking sector.

Besides, the unions oppose any move to privatize regional rural banks, co-operative banks, consolidation and mergers of banks, AIBEA general secretary C.H. Venkatachalam said in a statement.

The decision to go on strike was taken at the meeting organized by UFBU.

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