Banking services within the nation could possibly be affected on Monday and Tuesday amid a nationwide strike of bank unions towards the proposed privatization of two state-owned lenders. The United Forum of Bank Unions (UFBU), an umbrella physique of 9 unions, has claimed that about 10 lakh bank staff and officers of the banks will take part within the strike.
WHAT COULD BE AFFECTED
- Many public sector lenders, together with the State Bank of India (SBI), have knowledgeable their prospects that their regular working could possibly be affected on the branches and places of work if the strike materializes.
- Banks have additionally knowledgeable that they’re taking essential steps for the sleek functioning of bank branches and places of work.
- Services corresponding to deposits and withdrawal at branches, cheque clearance, and mortgage approvals can be affected as a result of strike.
- Conciliation conferences – earlier than the Additional Chief Labour Commissioner on March 4, 9, and 10 – didn’t yield any optimistic outcome, so the strike stands, All India Bank Employees Association (AIBEA) normal secretary C H Venkatachalam mentioned.
- Members of UFBU embrace All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), and Bank Employees Confederation of India (BEFI).
- Others are the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW), and National Organisation of Bank Officers (NOBO).
- Finance Minister Nirmala Sitharaman, presenting the Union Budget final month, had introduced the privatization of two public sector banks (PSBs) as a part of the federal government’s disinvestment plan.
- The authorities has already privatized IDBI Bank by promoting its majority stake within the lender to LIC in 2019 and has merged 14 public sector banks within the final 4 years.
READ MORE: HDFC Bank to cowl vaccination price of staff, members of the family
Latest Business News