Bank strike today: Bank unions call for 2-day nationwide strike, banking services likely to be affected
Highlight
- Employees of many government banks including SBI will go on strike for two days from today
- UFBU, AIBOC, AIBEA, NOBW . has called for a strike
- The ruling DMK in Tamil Nadu has supported the two-day nationwide strike called
Employees of several state-run banks, including State Bank of India (SBI), went on a two-day strike from today against the move to privatize public sector banks that has affected normal banking operations across the country.
An umbrella body of nine bank unions including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and the national organization United Forum of Bank Unions (UFBU), as many branches were closed in different parts of the country . Bank employees (NOBW) had called for a two-day strike.
As a result, services like deposit and withdrawal, check withdrawal and loan sanction at branches may get affected due to the strike. But the ATM is expected to function normally. Public sector lenders, including State Bank of India, had informed customers that services at their branches may be affected due to the strike. However, the private sector, especially the new generation private sector lenders, such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank are operating as usual.
Unions have been protesting ever since the Center announced the privatization of two public sector lenders in its Budget 2021-22. AIBOC general secretary Soumya Dutta confirmed that the union has decided to go ahead with the two-day nationwide strike.
Around nine lakh employees and officers of various public sector banks (PSBs), old generation private sector banks and regional rural banks will participate in the strike.
(AIBEA) General Secretary CH Venkatachalam told PTI that the strike is against the government’s decision to privatize public sector banks, which are playing a vital role in nation building.
AIBOC general secretary Soumya Dutta said that it is unfortunate that due to the attitude of the government, the strike has affected the functioning of more than one lakh branches of banks and regional rural banks.
“From cash withdrawal to deposits, business transactions, loan processing, check clearing, account opening and business transactions, all banking services are affected,” he said.
The ruling DMK in Tamil Nadu supported the two-day nationwide strike called by Party General Secretary and Minister of State Durai Murugan wished the strike success and declared his party’s “full support” to the protest.
State Bank of India (SBI) had already warned customers about the possible impact on banking operations of the nationwide strike.
“We have been informed by the Indian Banks Association (LBA) that the United Forum of Bank Unions (UFBU) has given notice of strike, informing that the members of the constituent associations of UFBU. AIBEA, AIBOC, NCBE, AIBOA, BEFI , INBEF and INBOC have proposed to go on a nationwide bank strike in support of their demands on 16th and 17th December, 2021. We advise that where the Bank has decided to ensure normal functioning of its branches and offices during the strike days. Having made necessary arrangements, there is a possibility that the strike may affect the work in our bank,” SBI said in an exchange filing earlier.
Stating that the strike was not in the interest of customers and investors, SBI, Canara Bank and UCO Bank urged their employees to reconsider their decision to go on strike.
“Furthermore, in view of the prevailing pandemic situation, resorting to strike will cause major inconvenience to the stakeholders,” SBI said in a tweet.
The Center is widely expected to introduce a bill – the Banking Laws (Amendment) Bill – in the ongoing winter session of Parliament to pave the way for privatization of two public sector banks. This bill is yet to be officially approved by the cabinet, but sources say that it can be discussed in today’s cabinet meeting.
The government has privatized IDBI Bank by selling its majority stake in the lender to LIC in 2019 and has merged 14 public sector banks in the last four years.
Meanwhile, employees and trade unions had launched a ‘Save Bank, Save the Country’ protest campaign at Jantar Mantar in New Delhi on 1 December.
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