Public sector lender Canara Bank stated that banking services across the country may get hampered due to the strike
The umbrella body of Union Forum of Bank Unions (UFBU) of nine unions has called for a 2-day strike on March 15 and March 16 to show their disapproval towards the proposed privatisation of two major state-owned lenders by the central government.
Public sector lender Canara Bank stated that banking services across the country may get hampered due to the strike that is being proposed.
"We have been informed by the Indian Banks’ Association (IBA) that the United Forum of Bank Unions (UFBU) has given a call for strike in the banking industry on March 15 and March 16, for issues relating to industry level and not for any bank-level issues,” Canara bank stated in a regulatory filing.
However, Canara Bank stated that it would take the required steps to ensure the smooth functioning of the branches/offices.
“However, in the event of strike materialising, the functioning of the branches/offices may be impacted,” it added.
It is to be noted that Finance Minister Nirmala Sitharaman in the Union Budget speech, announced that the Centre will privatise two Public Sector Banks (PSBs) as part of its disinvestment plan.
Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA) and Bank Employees Confederation of India will be involved in the protest. Other organisations include Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).
Why are the banks protesting?
The bank unions are opposing the privatisation of banks, as well as private sector-interference in government-related business.
It is particularly bothered about a statement that Nirmala Sitharaman made during hr Budget Speech where she said that private-sector can now be involved in government-related businesses like collection of taxes, pension payments and small savings schemes.
Recently, All India Bank Employees’ Association (AIBEA) stated that the private sector's involvement in government-related business is 'unfair', and needs to be withdrawn.
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