Business
The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI) are protesting against the recent decision to merge 10 PSU banks into four bigger banks and falling deposit rates. .
Updated : Oct 22, 2019, 12:52 PM IST | Edited by : Abhishek Sharma
Banking services across the country are likely to be hit on Tuesday as two bank union workers have decided to observe a 24-hour strike after a failed dialogue with the government on bank mergers.
The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI) are protesting against the recent decision to merge 10 PSU banks into four bigger banks and falling deposit rates.
Two representatives from each union, one representative from the Indian Banking Association, a deputy secretary-level official from the finance ministry, held a meeting with the chief labour commissioner in Delhi.
The unions went ahead with the strike decision as the meeting failed to break the deadlock.
Several PSU banks like Bank of Baroda have warned that their banking operations could see disruption.
The State Bank of India (SBI), however, is not participating in the strike and informed that there would be minimal impact on its operations.
In Mumbai and Haryana, it could be the third consecutive day when banks are closed today. Due to Assembly Elections, all banks across the two states were shut.