Bank and Insurance Employees will Join Nationwide Strike on 20 May, Circular issued

Major trade unions from the banking and insurance sectors have come together to support the nationwide General Strike called on May 20, 2025, protesting against the central government’s labour and economic policies. The strike is part of a larger movement initiated by the National Convention of Workers, which has urged all sectors to unite against what they describe as anti-worker and anti-people policies.

To discuss their participation in this strike, a virtual meeting was held on April 24, 2025, through Google Meet. Representatives from the following major organisations took part:

• All India Bank Employees’ Association (AIBEA)
• All India Insurance Employees Association (AIIEA)
• National Confederation of Bank Employees (NCBE)
• All India LIC Employees Federation (AILICEF)
• All India Bank Officers Association (AIBOA)
• Bank Employees Federation of India (BEFI)
• Indian National Bank Officers Congress (INBOC)
• All India National Life Insurance Employees’ Federation (AINLIEF)

Although some unions like AIBOC, GIEAIA, and INBEF could not attend due to prior engagements, the meeting saw enthusiastic participation from other major unions.

Unions Support the Strike

During the meeting, unions welcomed the decision of the Central Trade Unions to hold the strike and agreed that the current government policies are harmful to workers and the general public.

Six major unions – AIBEA, AIIEA, AILICEF, AIBOA, BEFI, and AINLIEF – confirmed their decision to participate in the strike. The remaining unions said they would consult their members and leadership before taking a final decision. However, they showed willingness to take part in solidarity campaigns and awareness activities.

Joint Campaign Plans

To spread awareness and build unity before the strike, the unions decided to launch a joint campaign across the financial sector. The following activities will be carried out:

• Joint appeal to financial sector workers urging them to join the strike.
• Distribution of leaflets explaining the demands of the workers and the purpose of the strike.
• Hall meetings across cities and towns between May 1 and May 18, to explain the issues to employees.
• Joint demonstrations on May 8 and May 19.
• Poster campaigns at workplaces and public places.
• Rallies and protests on the day of the strike, i.e., May 20, 2025.

Purpose of the Strike

The unions are protesting against:

• Privatisation of public sector banks and insurance companies.
• Disinvestment in government-owned financial institutions.
• Weakening of labour laws and workers’ rights.
• Economic policies that they claim favour corporates instead of the common people.

Leaders Speak

The leaders who signed the joint statement include:

• C.H. Venkatachalam, General Secretary, AIBEA
• L. Chandrasekhar, General Secretary, NCBE
• Sanjay Kumar Khan, General Secretary, AIBOA
• Prem Makker, General Secretary, INBOC
• Shreekant Mishra, General Secretary, AIIEA
• Rajesh Kumar, General Secretary, AILICEF
• Debasish Basu Choudhary, General Secretary, BEFI
• Sanjay Chakraborthi, General Secretary, AINLIEF (INTUC)

They expressed hope that this united movement will lead to stronger joint struggles in the future against privatisation and other policies affecting the financial sector and working class.

Participants of the Meeting

Here are the key participants who attended the virtual meeting:

• Rajen Nagar – President, AIBEA
• C.H. Venkatachalam – General Secretary, AIBEA
• Shreekant Mishra – General Secretary, AIIEA
• Sanjay Jha – Joint Secretary, AIIEA
• L. Chandrasekhar – General Secretary, NCBE
• Rajesh Kumar – General Secretary, AILICEF
• Sanjay Kumar Khan – General Secretary, AIBOA
• S.S. Anil – President, BEFI
• Debasish Basu – General Secretary, BEFI
• Prem Kumar Makker – General Secretary, INBOC
• V. Narasimhan – President, INLIEF
• Sanjay Chakraborthi – General Secretary, AINLIEF

Conclusion
This joint decision by banking and insurance sector unions to participate in the strike is seen as a significant step in uniting financial sector employees to defend their rights and protect public sector institutions. The coming days will witness large-scale awareness campaigns and protests across the country, leading up to the nationwide General Strike on May 20, 2025.