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

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2-day bank strike from today: Employees of Public Sector Banks (PSB), including State Bank of India (SBI), have started a two-day strike from today against the decision to privatize public sector banks, which has affect the normal operation of banks across the country. However, the private sector, especially new generation private sector lenders, like HDFC Bank, ICICI Bank and Kotak Mahindra Bank, are operating as usual.

The United Forum of Banking Unions (UFBU), which brings together 9 banking unions, has called for a two-day banking strike starting today to protest against the government’s decision to privatize several banks in the country.

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

1) Many branches in different parts of the country have been closed as UFBU, Indian Bank Employees Association (AIBEA) and National Organization of Bank Employees (NOBW) have called for strike action 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) Nearly nine lakh employees of various public banks are taking part in the strike.

4) The banking unions have called for a strike on December 16 and 17 against the plan to privatize public sector banks.

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

6) The State Bank of India (SBI) had already warned its customers about the possible impact of the nationwide strike on banking operations. “We have been informed by the Indian Banking Association (lBA) that the United Forum of Banking Unions (UFBU) has served strike notice, advising that members of the constituent unions of UFBU viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC are proposing to call a national banking strike on December 16 and 17, 2021 in support of their demands. We inform that although the Bank has taken the necessary measures to ensure the normal functioning of its branches and offices on the days of the strike, it is likely that the work in our Bank may be affected by the strike,” SBI said in a filing. exchange earlier.

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

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 Laws (Amendment) Bill 2021 during the ongoing winter session of Parliament. The bill seeks to privatize public sector banks.

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

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