Services hit as bank employees begin two-day strike

NEW DELHI:

The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions, has called for a two-day nationwide strike on March 15 and 16 against the privatisation of Public Sector Banks and retrograde banking reforms.

The strike comes after Union Finance Minister Nirmala Sitharaman announced the privatisation of two public sector banks (apart from IDBI Bank) as part of the government’s disinvestment drive to generate ₹ 1.75 lakh crore.

Over 10 lakh bank employees and officers will take part in the strike.

All nine banks unions - All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Confederation (AIBOC), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) and the National Organisation of Bank Workers (NOBW) will take part in the strike called by the UFBU.

Services such as deposits and withdrawal at branches, cheque clearance, and loan approvals would be affected because of the strike.

However, ATMs are likely to remain functional.