New Delhi:
Employees of public sector banks (PSB) on Thursday went on a two-day strike against the move to privatize public sector banks that is affecting normal banking operations across the country.
Many branches across different parts of the country have been closed such as the United Banking Union Forum (UFBU), an umbrella body of nine banking unions including the Global Federation of Bankers and Bankers. India (AIBOC), All India Bankers Association (AIBEA) and National Organization of Bankers (NOBW) have issued a call for a two-day strike.
As a result, services such as depositing and withdrawing money at branches, paying checks and approving loans may be affected by the strike. But ATMs are expected to operate as usual.
Public sector lenders, including State Bank of India, have informed customers that services at their branches may be affected as a result of the strike.
However, the private sector, especially the new generation of private sector lenders, such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank, are operating as usual. Secretary General (AIBEA) CH Venkatachalam told PTI.
AIBOC Secretary General Soumya Dutta said about 70,000 across the country are participating in the two-day strike.
It is unfortunate that the jobs of more than 10,000 bank branches and rural banks in the region have been affected by the strike due to the government’s attitude, Dutta said.
“All banking services are affected from cash withdrawals to deposits, business transactions, lending processes, check clearing, account opening and business transactions,” he said.
In the Union Budget presented in February, Finance Minister Nirmala Sitharaman announced the privatization of two public sector banks (PSBs) as part of an investment divestment plan.
To facilitate the privatization process, the government has listed the Banking Law (Amendment) Bill 2021, to be introduced and passed in the current session of the National Assembly.
The government equitized IDBI Bank by selling a majority stake in the lending bank to LIC in 2019 and merging 14 public sector banks over the past four years.
