December 2, 2021

10 lakh employees will have a strike on March 15 -16, Banking services to be affected

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The Union Forum of Bank Union (UFBU), which is the chief body having nine bank unions, has taken the call for a two-day national strike scheduled for March 15-16, which is a move against privatisation of Public Sector Banks and retrograde banking reforms.

More than 10 lakh employees of the bank and officers will be a part of the strike.

The strike which is called by UFBU will have participation from all the nine bank unions which include – All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Employees Association (AIBEA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organization of Bank Officers (NOBO) and the National Organization of Bank Workers (NOBW).

The ATMs will be functional, though, banking services which comprises of deposits and withdrawals at the bank branches and cheque clearance and loan approvals will be affected as the employees take over the strike. The strike is an outcome of the declaration made by Union Finance Minister Nirmala Sitharaman in the Union Budget regarding the privatisation of two public sector banks (apart from IDBI bank), which is constituting the government’s disinvestment drive for generation of Rs. 1.75 lakh crore.

Along with the bank unions, the unions of the four General Insurance companies will have a strike as scheduled on March 17. The unions of LIC are on strike scheduled for March 18, though unions of insurance companies will be initiating a strike against the privatisation of public companies.

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