BMS to protest appointment of private fund managers for EPFO
Bhartiya Mazdoor Sangh (BMS) will organize protest demonstartions across the country on August 12 to oppose the appointment of private fund managers for the Employees Provident Fund Office (EPFO).
By PTI |
NEW DELHI: Bhartiya Mazdoor Sangh (BMS) will organize protest demonstartions across the country on August 12 to oppose the appointment of private fund managers for the Employees Provident Fund Office (EPFO).
The EPFO funds were earlier managed by the State Bank of India.
However, the Centre recently took the decision to appoint ICICI Bank, HSBC Bank and Reliance AMC for the purpose by sanctioning Rs 30,000 crores from the EPFO funds.
BMS has alleged that the Union Labour Ministry did great injustice to workers in the country by deciding to appoint such fund managers despite repeated protests from the central trade unions.
BMS demanded that the offer should go to nationalized banks instead of private fund managers.
The EPFO funds were earlier managed by the State Bank of India.
However, the Centre recently took the decision to appoint ICICI Bank, HSBC Bank and Reliance AMC for the purpose by sanctioning Rs 30,000 crores from the EPFO funds.
BMS has alleged that the Union Labour Ministry did great injustice to workers in the country by deciding to appoint such fund managers despite repeated protests from the central trade unions.
BMS demanded that the offer should go to nationalized banks instead of private fund managers.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
