- With holiday banks on March 13 and 14 and the strike that will take effect on March 15, regular banking services will be affected
By hindustantimes.com | Edited by Ayshee Bhaduri, Hindustan Times, New Delhi
PUBLISHED ON MARCH 12, 2021 03:21 PM IST
The United Forum of Banking Unions (UFBU), which represents nine banking unions, called for a two-day national strike starting on March 15 to protest against the government’s proposed privatization of two state moneylenders. Given that banks close on March 13 (second Saturday of the month) and March 14 due to regular holidays, a closure of 4 consecutive days is expected.
Who called the strike and why?
Banking Employees Association of India (AIBEA), Banking Officials Confederation of India (AIBOC), National Banking Employees Confederation (NCBE), Banking Officials Association of India (AIBOA) and Banking Employees Confederation of India ( BEFI), National Bank of India The Employees Federation (INBEF), the National Congress of Banking Officials of India (INBOC), the National Organization of Bank Workers (NOBW) and the National Organization of Bank Officials (NOBO) are the Nine banking unions that make up the UFBU and represent a total of 10 lakh employees. All of these unions have collectively called for a two-day national strike to protest the proposed privatization of two public sector banks (PSB) as part of the Center’s divestment plan announced by Finance Minister Nirmala Sitharaman during the month’s budget session. last.
The conciliation meetings held with the Chief Additional Labor Commissioner on March 4, 9 and 10 did not produce tangible results. AIBEA general secretary CH Venkatachalam told the PTI news agency that failed meetings had influenced the union’s decision to go on strike. “Therefore, it was decided to go ahead with the strike for two days in a row, on March 15 and 16, 2021. Approximately 10 lakh of bank employees and bank officials will participate in the strike,” PTI quoted Venkatachalam as saying.
What banking services will be affected?
With holiday banks on March 13 and 14 and the strike taking effect from March 15, regular banking services such as opening a savings account, applying for loans and issuing demand transfers are expected to be are affected. The State Bank of India has warned its clients about strikes affecting normal banking hours and services, PTI reported.
Private banks like ICICI, Kotak Mahindra, Axis Bank, etc. are not part of this strike and therefore their working hours will not be affected. ATMs will also be operational throughout the country.
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