Centre privatising profit and nationalising loss, says Rahul Gandhi

Congress leader Rahul Gandhi on Tuesday criticised the Centre over the privatisation of Public Sector Banks and said that he stands with the striking bank employees.

"GOI is privatising profit and nationalising loss. Selling PSBs to Modicronies gravely compromises India's financial security. I stand in solidarity with the striking bank employees," Gandhi tweeted.

United Forum of Bank Unions which is an umbrella body of nine bank unions, with over 10 lakh bank employees and officers called a two-day nationwide strike on March 15 and 16, against the privatisation of Public Sector Banks and 'retrograde banking reforms'.

The strike came after Union Finance Minister Nirmala Sitharaman's Budget announcement where she announced the privatisation of two public sector banks (apart from IDBI Bank) as part of the government's disinvestment drive to generate Rs 1.75 lakh crore.

Apart from bank unions, all the unions in four General Insurance Compes will be on strike on March 17. All the unions in LIC are on strike on March 18, while unions of four insurance compes have called for a strike against the privatisation of public compes.

( With inputs from ANI )