Trade unions across India, including those from the country’s largest insurer LIC and several major banks, are set to protest jointly on July 9 to safeguard workers’ rights and resist government policies they deem harmful to public sector institutions. Originally scheduled for May 20, the strike was postponed in the wake of the Pahalgam terror attack.

The participating unions include AIBEA, AIBOA, BEFI, AIIEA, AILICEF, and AINLIEF (INTUC). In a joint circular, the Bank Employees Federation of India (BEFI) outlined key demands—stopping privatisation and disinvestment of banks and LIC, opposing a 100% hike in FDI in insurance, and merging public sector general insurers into a single entity.

The unions are also calling for an end to contractual employment and adequate recruitment across the public sector.

Major demands cover pension, labour rights, and public services

Among the key demands are the restoration of the Old Pension Scheme (OPS) and the scrapping of the New Pension Scheme (NPS). Other demands include action to recover bad corporate debt, reducing banking service charges for the public, removing GST on life and health insurance premiums, and safeguarding trade union rights.

The unions also oppose the new labour codes, claiming these weaken protections for workers. BEFI stated the protest supports the resolutions passed at the National Convention of Workers held in New Delhi on March 18, 2025.

Participation expected across all sectors

The All India Insurance Employees’ Association (AIIEA) said the strike would be a major protest against the government’s “pro-corporate and anti-people” policies. According to the AIIEA circular dated May 5, the strike may see participation from over 200 million workers nationwide.

AIIEA criticised recent economic measures, alleging they mainly benefit the wealthy under the guise of ‘ease of doing business’. It also noted that the new labour codes dilute existing trade union rights.

15 crore workers from varied sectors to join

An estimated 15 crore workers across industries are expected to take part. Participating organisations include CITU, INTUC, AITUC, LPF, UTUC, HMS, SEWA, TUCI, NLC, TUCC, JLU, NLU, KTUCS, KTUC(M), INLC, NTUI, and HMKP. The protest includes farmers, agricultural labourers, government employees, teachers, and staff from banking and insurance sectors.

Their key demands include repealing the new labour codes, measures to control price rise, stopping privatisation of public sector units, formal recognition of scheme workers, a minimum monthly wage of Rs 26,000, and a pension of Rs 9,000.