2-day bank strike from today, banking services likely to be affected: 10 points

0

2-day bank strike from today: Employees of public sector banks (PSBs), including the State Bank of India (SBI), have gone on a two-day strike from today against the decision to privatize public sector banks impacting normal banking operations across the country. However, the private sector, especially new generation private lenders like HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, are operating as usual.

The United Forum of Banking Unions (UFBU), which brings together nine banking unions, has called for a two-day banking strike from today to protest the government’s decision to privatize several banks in the country.

Here are 10 things to know about the 2-day bank strike:

1) Many branches in different parts of the country were closed because the UFBU, the Indian Association of Bank Employees (AIBEA) and the National Organization of Bank Employees (NOBW) had called for a strike by two days.

2) Services such as branch deposits and withdrawals, check clearing and loan approvals were affected due to the strike. But the ATMs work as usual.

3) Almost nine lakh employees from various public banks are taking part in the strike.

4) The banking unions called a strike on December 16 and 17 against the proposed privatization of public sector banks.

5) The unions have been protesting since the Center, in its 2021-2022 budget, announced its intention to privatize two public sector lenders.

6) The State Bank of India (SBI) had previously warned customers of the possible impact of the national strike on banking operations. “We have been informed by the Association of Indian Banks (lBA) that the United Forum of Banking Unions (UFBU) has served notice of strike action, informing members of the UFBU’s constituent unions, viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC propose to call a nationwide bank strike on December 16 and 17, 2021 in support of their demands. We inform that although the Bank has made the necessary arrangements to ensure the normal functioning of its branches and offices on strike days, it is likely that the work in our Bank could be affected by the strike, “SBI said in a document. exchange earlier.

7) In a tweet, the SBI urged its staff to reconsider their decision and refrain from participating in the strike. “In addition, given the current pandemic situation, resorting to a strike will cause great inconvenience to stakeholders,” the tweet said.

8) Previous lenders including Canara Bank, PNB, Punjab and Sind Bank, among others, had urged employee unions to reconsider their plan

9) The government has decided to introduce the Banking Law (Amendment) Bill 2021 during the current winter session of Parliament. The bill seeks to privatize public sector banks.

10) Employees and unions launched a “Bank Bachao, Desh Bachao” protest campaign in Jantar Mantar in New Delhi on December 1st.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!

Share.

Comments are closed.