The strike comes in the wake of Finance Minister Nirmala Sitharaman s announement in the Union Budget 2021-22 of privatisation of two public sector banks (apart from IDBI Bank) as part of the governmentâs disinvestment drive to generate Rs 1.75 lakh crore. The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions has decided to call the strike.
The IDBI Bank is already privatised by the government by selling its majority stake to the Life Insurance Corporation of India (LIC) in 2019 and merged 14 public sector banks in the last four years.
State Bank of India explaining the consequences of the strike had said, We inform that, we have been advised by lndian Banks Association lBA that United Forum of Bank Unions UFBU which comprises 9 major Unions, viz. All lndia Bank Employeesâ Association AIBEA, All India Bank Officersâ Confederation AIBOC, National Confederation of Bank Employees NCBE, All lndia Bank Officersâ Association AIBOA, Bank Employe
Centre privatising profit and nationalising loss, says Rahul Gandhi ANI | Updated: Mar 16, 2021 12:39 IST
New Delhi [India], March 16 (ANI): Congress leader Rahul Gandhi on Tuesday criticised the Centre over the privatisation of Public Sector Banks and said that he stands with the striking bank employees. GOI is privatising profit and nationalising loss. Selling PSBs to Modicronies gravely compromises India s financial security. I stand in solidarity with the striking bank employees, Gandhi tweeted.
United Forum of Bank Unions which is an umbrella body of nine bank unions, with over 10 lakh bank employees and officers called a two-day nationwide strike on March 15 and 16, against the privatisation of Public Sector Banks and retrograde banking reforms .
Updated Mar 16, 2021 | 17:04 IST
The finance minister s comment came as employees under the banner of the United Forum of Bank Unions are observing a two-day bank strike protesting the Centre s move of privatising banks Govt will take care of employees in case of privatisation, says Nirmala Sitharaman | Photo Credit: ANI
New Delhi: Finance minister Nirmala Sitharaman on Tuesday that the amalgamation of banks or privatisation of financial institutions will not hurt the interest of the employees as these are not rushed decisions and the Centre is committed to taking care of the workers.
FM said, Interests of workers of banks which are likely to be privatized will absolutely be protected - whether their salaries or scale or pension, all will be taken care of.
Nationwide bank strike enters day 2: Check affected services
Nationwide bank strike enters day 2: Check affected services
The two-day strike was called by the UFBU, an umbrella body of nine bank unions, to protest against the proposed decision to privatise two public sector banks. Check which banking services will remain hit today due to the strike:
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UPDATED: March 16, 2021 13:41 IST
Bank employees raise slogans during a protest in support of the two-day natiowide strike, called by UFBU. (Photo: PTI)
Key services across public sector banks in India faced disruption on Tuesday as the nationwide strike called by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, entered the second day.
Nationwide Bank Strike Continues To Impact PSB Services On Day 2; Check Details
Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services.
PTI 16 March 2021 File Photo PTI 2021-03-16T13:51:23+05:30 Nationwide Bank Strike Continues To Impact PSB Services On Day 2; Check Details outlookindia.com 2021-03-16T13:52:51+05:30
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government s policy to privatise the lenders.
Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted.