Impact on banking services: 10 lakh bank employees on strike for 2 days from today in protest against privatization of 2 banks, only ATM service will be operational
The United Forum of Bank Union has announced a two-day strike to protest the privatization of public sector banks.
About 10 lakh bank employees will be on strike on March 15 and 16 against privatization of two public sector banks. This will affect bank deposits, check clearances including withdrawals and loan approval services. ATM services will continue. This bank strike has been called by the United Forum of Bank Unions (UFBU).
Let me tell you, a two-day strike across the country is being organized by The United Forum of Bank Union in protest against privatization and retrograde banking reforms to public sector banks.
Major private banks of the country will remain open
This will be very troublesome for the common people, as the banks remain closed on March 13 and 14 as well. Although private sector banks will remain open, including HDFC Bank, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank, they account for about a third of the country's total bank accounts.
The government announced in the budget the merger of 2 state-owned banks
In the budget, Finance Minister Nirmala Sitharaman had announced the privatization of 2 public sector banks (PSBs) as part of their disinvestment plan. The government wants to raise 1.75 lakh crore rupees through it. In protest against this, the bank employees are going on a 2-day strike. In 2019, the government privatized IDBI Bank by selling its multiple stake in LIC. At the same time, in the last four years, 14 public sector banks have been merged.
9 unions join UFBU
The UFBU organization that led the strike is headed by 9. Members 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), Bank Employees of India (BEFI), National Bank Employees of India Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Bank of Bank Workers (NOBW) and National Organization of Bank Officers (NOBO).