Bank branches might stay closed for the next 4 days, which includes a two-day weekend vacation, and a two-day planned strike starting Monday. The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, will go on a two-day strike on March 15 and 16, 2021, to protest against the proposed privatisation of two state-owned banks. Starting tomorrow, banks are scheduled to be closed on March 13, 2021 (second Saturday) and March 14, 2021 (Sunday). Due to this, bank services are most likely to be impacted for the next 4 days. However, ATM, mobile and net banking will stay functional. Customers are advised to strategy bank-associated work accordingly today, in order to stay away from any final-minute problems.
Finance Minister Nirmala Sitharaman in her Union Budget 2021 speech announced the privatisation of two public sector banks (PSBs) as aspect of a disinvestment strategy to produce Rs 1.75 lakh crore. In 2019, the government has currently privatised IDBI Bank by promoting its majority stake to LIC. Moreover, so far in the final 4 years, the government has merged 14 public sector banks. Conciliation meetings – prior to the Additional Chief Labour Commissioner on March 4, 9 and 10 – did not yield any positive outcome, PTI quoted All India Bank Employees Association (AIBEA) basic secretary C H Venkatachalam as saying.
10 lakh staff to participate in strike
About 10 lakh bank staff and officers of the banks will participate in this two-day strike. Along with AIBEA the bank unions of All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers Association (AIBOA) and Bank Employees Confederation of India (BEFI), National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO), amongst other people have offered a contact for a strike.
Work in SBI might be impacted
State Bank of India (SBI) has produced all arrangements to guarantee standard functioning in its branches and offices. However, in a BSE filing, SBI has informed that work in the bank might be impacted by the strike. “We have been advised by the lndian Banks Association (lBA) that United Forum of Bank Unions (UFBU) which comprises 9 major Unions….has given a call for all-lndia strike by Bank Employees on 15th & 16th March 2021,” it stated in an exchange filing.
Canara Bank: Bank branches functioning might be hit
Earlier this month, Canara Bank also stated that it has been informed by the Indian Banks’ Association (IBA) that the United Forum of Bank Unions (UFBU) has offered a contact for strike in the banking sector on 15 March and 16 March for the problems relating to sector level and not for any bank-level problems. It assured that the Bank has taken essential measures for the smooth functioning of Bank’s branches/offices on the days of proposed strike. “However, in the event of strike materializing, the functioning of the branches/offices may be impacted,” it added.