Why the two-day strike by PSU bank staff won’t be the last of the protests
Why the two-day strike by PSU bank staff won’t be the last of the protests | India Today Insight
The government’s plans to privatise two state-owned banks has staff unions seeing red
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UPDATED: March 17, 2021 00:37 IST
Bank employees protest against the move to privatise public sector banks, at Jantar Mantar, New Delhi, 15th March (Rajwant Rawat) The strike by hundreds of thousands of employees in the public banking sector for two days, March 15 and 16, which has disrupted services across the country, is the first major nation-wide strike related to bank privatisation plans after they were announced in the Union Budget on February 1 this year. Going by the nature of the issue, these protests will not be the last.
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Employees of Allahabad Bank stage a protest during a two-day nationwide banks strike against the privatisation of Public Sector Banks and retrograde banking reforms in Patna on Monday.
The two-day bank strike led by nine unions of public sector banks (PSBs) in the country has severely affected the banking operations. Customers are facing inconvenience in parts of the country due to the strike called against the Centre s policy to privatise the lenders.Â
The strike has affected services like cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions have also been impacted.Â
Banking services hit across country due to 2-day bank strike
On the first day of the strike, about 85 lakh cheques and other bank instruments were not cleared by bank branches in Mumbai alone.
BusinessToday.In | March 16, 2021 | Updated 22:40 IST
The United Forum of Bank Unions had called the two-day strike to protest against the Centre s decision to privatise public sector banks.
The two-day strike called by bank employees union, ending Tuesday, severely hit banking services across the country.
The United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank unions, had called the two-day strike to protest against the Centre s decision to privatise public sector banks.
The two-day pan-India bank strike ended on Tuesday, with the disruption in services including cash withdrawals, deposits, loan disbursements and cheque clearances hitting customers hard across Maharashtra. Around 50,000 members belonging to various bank unions, under the joint platform of the United Forum of Bank Unions (UFBU), stayed away from work during the strike on March 15-16 across the state, union leaders claimed. The forum was protesting privatisation of two more government-owned banks, as announced in the Union Budget for fiscal 2021-22. Today (Tuesday) also, as per reports from our unions in various states, the strike has been successful. Overwhelming majority of the bank branches remain closed, All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said in a statement.
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