New Delhi: A closed bank branch during bank unions' two-day nationwide strike against privatization of Public Sector banks and 'retrograde banking reforms', in New Delhi, Monday, March 15, 2021.
Banking operations across the country are set to be affected on Monday and Tuesday as the United Forum of Bank Unions (UFBU) has given a call for a nationwide strike to protest against the proposed privatisation of two state-owned lenders. UFBU, an umbrella body of nine unions, in a statement claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.
In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of the government's disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and has merged 14 public sector banks in the last four years.
Conciliation meetings - before the Additional Chief Labour Commissioner on March 4, 9 and 10 - did not yield any positive result, so the strike stands, All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam said.
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 (BEFI).
Others are the 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).
Bank strike today: Services to be affected/remain unaffected
- Services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected due to the strike
- Many public sector lenders, including the State Bank of India (SBI) have informed their customers their normal working could be affected at the branches and offices if the strike materialises
- Banks have also informed that they are taking necessary steps for the smooth functioning of bank branches and offices
- ATMs may continue to function normally
- Services of private banks like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank and IndusInd Bank that account for about one-third of banking services are expected to remain normal
- Banks have informed that they are taking necessary steps for the smooth functioning of bank branches and offices
