SBI customers alert: Banking, ATM services may be hit on THESE two days next week

Disruption is likely in State Bank of India (SBI) services on December 16 and 17 with bank employees set to go on a two-day nationwide strike. The strike was called by the United Forum of Bank Unions (UFBU), an umbrella organisation of bank unions, in protest against the government’s bid to privatise India’s public sector banks.

As per an exchange filing by SBI on December 10, “We have been advised by the Indian Banks' Association (lBA) that United Forum of Bank Unions (UFBU) has served a Notice of Strike, informing that the members of the constituent Unions of UFBU viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC propose to go on a nationwide Bank Strike on 16th & 17th December, 2021 in support of their demands. We advise that while the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the days of Strike, it is likely that work in our Bank may be impacted by the Strike.”

Bank unions believe that the move to privatise public sector banks will hit Indian economy’s priority sectors as well as credit flow to self-help groups and economy of rural areas.

PSBs hold 70% of the total deposits in India and handing them over to private capital will endanger money deposited with the banks by common people into jeopardy, Sanjay Das, general secretary of All India Bank Officers Confederation (AIBOC) told PTI.

India's Union Minister of Finance Nirmala Sitharaman had said that two public sector banks will be privatised while announcing the Union Budget for 2021-2022.