Twitter

Two-day bank strike from THIS date: Services of SBI, other PSU banks may be hit

Banking unions have come together against the government's move to privatise PSU's as they feel that the move will lead to job losses.

Latest News
article-main
File photo
FacebookTwitterWhatsappLinkedin

The United Forum of Bank Unions (UFBU), the apex body of nine organisations of bank employees, has announced a two-day nation-wide strike on March 15 and March 16 to protest against the proposed privatisation of two public sector banks. 

 

"About 10 lakh bank employees and officers of the banks will participate in the strike," All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam has said. 

 

It may be recalled that Finance Minister Nirmala Sitharaman announced the privatisation of two public sector banks as part of the disinvestment program during her Budget 2021 speech. Banking unions have come together against this move of Sitharaman as they feel that the move to privatise PSUs will lead to job losses.

 

Which bank services will be affected

 

The services of State Bank of India (SBI) and Canara Bank might be hit. Banks including SBI and Canara bank have alerted their customers about the strikes affecting regular banking hours and services. These banks have also informed their customers that nececcary measures are being followed for the smooth functioning of banks on the day of the strikes.

 

Banking services such as applying for loans, issuTwo-day bank strike from from THIS date: Services of SBI, other PSU banks may be hite of demand drafts, opening a savings account are expected to be affected. 

 

All India Bank Employees Association (AIBEA), National Organisation of Bank Workers (NOBW), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), Indian National Bank Employees Federation (INBEF), All India Bank Officers' Association (AIBOA) and Bank Employees Confederation of India (BEFI), Indian National Bank Officers Congress (INBOC) and National Organisation of Bank Officers (NOBO) are the nine bank unions that make up UFBU and represent a total of 10 lakh employees. 

 

In the last four years, the government has merged 14 private sector banks. In 2019, the government privatised IDBI Bank by selling its majority stake in the lender to LIC.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.

Live tv