New Delhi: The United Forum of Bank Unions (UFBU), which is an umbrella physique of 9 financial institution unions, has referred to as for a two-day strike, i.e. March 15th and 16th to protest in opposition to the proposed privatisation of two state-owned lenders. But since March 13th is a second Saturday, March 14th is Sunday it could be four-day break within the common banking operations.
Dissatisfied by Finance Minister Nirmala Sitharaman’s Union Budget 2021-22 announcement concerning the privatisation of two public sector banks apart from IDBI Bank as a part of the federal government’s disinvestment drive to generate Rs 1.75 lakh crore. One basic insurance coverage firm may also be privatised within the coming fiscal, she mentioned including that the much-delayed disinvestment processes of Air India and BPCL amongst others could be accomplished within the upcoming fiscal.
“We have been informed by the Indian Banks’ Association (IBA) that the United Forum of Bank Unions (UFBU) has given a call for strike in the banking industry on March 15 and March 16, for issues relating to industry level and not for any bank-level issues,” PTI quoted Canara Bank as saying in a regulatory submitting. Canara Bank has warned that the size of the strike could have an effect on banking providers.
The unions which have referred to as for a strike embrace 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 Federation of India (BEFI), Indian National Bank Employees’ Federation Federation of Canara Bank Employees’ Congress (INBEF), Indian National Bank Officers’ Congress (INBOC), National Organisation of Bank Workers (NOBW), National Organisation of Bank Officers (NOBO), All India Nationalised Bank Officers’ Federation Canara Bank Officers’ Association (Regd.) (AINBOF).
Bharatiya Mazdoor Sangh has additionally referred to as for phase-wise agitation in opposition to the disinvestment and privatisation of the banks.
Since the banks shall be closed for 4 days straight, individuals can expertise difficulties withdrawing cash from ATMs and financial institution branches.