2-Day Nationwide Bank Strike From Today, Key Services Hit 2-Day Nationwide Bank Strike From Today, Key Services Hit Services such as deposits and withdrawal at branches, cheque clearance, and loan approvals would be affected due to the strike. However, ATMs are likely to remain functional.
Over 10 lakh bank employees and officers will participate in the strike. (Representational)
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.
Over 10 lakh bank employees and officers will participate in the strike.
Bank strike today: Cheque clearance affected
India
Published: Monday, March 15, 2021, 12:04 [IST]
New Delhi, Mar 15: Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions (UFBU) have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
UFBU, an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.
However, branches of private sector lenders like ICICI Bank, HDFC Bank and Axis Bank are open as they are not part of the strike.
The BSE Bankex index was trading at 38,927.62, down by 1,067.96 points or by 2.67 per cent, while Nifty PSU Bank index was quoting at 2,260.40, down 2.23 per cent, led by decline in SBI, Indian Bank, Bank of India, PNB, J&K Bank
New Delhi, March 15
Banking services such as cash withdrawals, deposits, cheque clearing and business transactions were impacted across the country on Monday, the day one of the PSU bank union's stri
(Image source from: Livemint.com)
Services hit after two-day nationwide bank strike:- United Forum of Bank Unions (UFBU), the body of nine unions is on a two-day nationwide strike that starts from today against the privatization of the lenders. Finance Minister Nirmala Sitharaman announced the privatization of two public sector banks last month during the Union Budget presentation in the process of a disinvestment plan. The Indian government already privatized IDBI Bank in 2019 after selling the majority stake and merged 14 public sector banks in the last four years. With this two-day strike, the transactions of the banks came to a halt for four complete days in a row with Saturday and Sunday being holidays.