10 lakh bank employees to go on pan-India strike today over proposed SBI merger

Normal banking operations may take a hit on Friday, as public sector bank employees will be on a one-day strike against the proposed merger of associate banks with the State Bank of India (SBI). They are also opposed to the banking reforms announced by the government recently.

About 10 lakh bank employees and officers of all the public sector banks, private banks and foreign banks will observe a full day all India bank strike.

The United Forum of Bank Unions, the umbrella organisation of nine bank unions, has been opposing Centre's move towards privatisation of public sector banks, privatisation of the IDBI Bank by reducing the government share to less than 49%, mergers of public sector banks and mergers of State Bank of India and its associate lenders.

Most banks, including the SBI, had earlier informed the customers that banking services would be affected on July 29 due to the strike at all banks on 'issue and demand to stop banking sector reforms'.

The employee associations have also demanded stringent action against the willful defaulters.