RSS affiliate BMS seeks labour minister's intervention to allay concerns over rural regional bank IPO plans
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RSS affiliate Bharatiya Mazdoor Sangh (BMS) has sought the intervention of Mansukh Mandaviya, Minister for Labour & Employment to address their concerns regarding the government’s IPO plans for rural regional banks (RRBs).
After a meeting with Mandaviya, a delegation led by BMS general secretary Ravindra Himte, said the minister has assured them to take up the matter with Finance Minister Nirmala Sitharaman to resolve the issue.
BMS has been apprehensive of the government’s plans to get some RRBs public listed as they felt it was one step towards privatization of these financial institutions. The trade union has also taken up their concerns related to the IPO with the Chief Labour Commissioner (Central).
There were recent reports that the finance ministry had asked some RRBs to submit draft IPO blueprints to the respective sponsor banks as well as Department of Financial Services to assess the IPO preparedness of those banks.
The minister also promised to look into the issues raised by BMS, particularly increasing the ceiling limits of ESI and EPF and substantially increasing the Minimum Pension amount from ₹1000, BMS leaders said.
A memorandum submitted by BMS to the minister included the trade union’s long-pending workers' issues that have an all-India impact. The trade union wanted the government to increase the ceiling limits of EPF & ESI, Bonus calculation limits, and Gratuity entitlement limits from 15 days to 30 days; substantially increase the Minimum Pension amount from ₹1000; and increase the Honorarium and Incentives to all Scheme Workers.
January 2026
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The BMS highlighted the plight of different forms of contract workers across the private, public, and government sectors. The delegation demanded that the government strictly implement Clause 25(2)(5)(A) of the Contract Labour (Regulation &Abolition) Act 1970, which clearly says – “the Contract worker should be paid the same and similar wages at par with the workman employed by the employer in any establishment “.
The delegation demanded stringent action against contractors/contract agencies that violate the rules, harass, and exploit contract workers. The BMS also requested the minister to establish a Welfare Board for all types of Drivers belonging to Private Transport, which exists throughout India. The trade union wanted the Indian Labour Conference be convened at the earliest possible date.