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.
URL copied Image Source : PTI
New Delhi: Bank employees raise slogans during a protest in support of the two-day nationwide strike, called by United Forum of Bank Unions (UFBU), against the proposed privatisation of two state-owned lenders, at Jantar Mantar in New Delhi, Monday, March 15, 2021.
The two-day nationwide strike called by the United Forum of Bank Union in protest against privatisation of the government banks began on Monday. The leader of a major union claimed total success impacting the clearance of two crore cheques/instruments worth about Rs 16,500 crore. On an average, about 2 crore cheques/instruments worth about Rs 16,500 crore are held up for clearance. Government treasury operations and all normal banking transactions have been affected, C.H. Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA) said.