2 day bank strike from monday, may affect the functioning of many public sector banks including SBI

Bank Strike: 9 unions have announced a strike on March 15 and 16 under the banner of the United Forum of Bank Unions -UFBU against the proposal of privatization of two banks in the country. All India Bank Employees Association -AIBEA General Secretary CH Venkatachalam had claimed that about 10 lakh bank employees would join the strike.

Several government banks, including State Bank of India -SBI, Canara Bank, have told their customers that their office and branch operations may be affected on the day of the strike. The banks have also informed that they are taking necessary steps for better functioning in banks and branches on the day of the proposed strike.

In fact, Finance Minister Nirmala Sitharaman said while announcing the Union Budget that the government has decided to privatize 2 public sector banks and one insurance company this year. In the year 2019, the government sold majority share of IDBI Bank in LIC. At present there are 12 government banks in the country. After that their number will be reduced to 10. Two banks will be privatized in the fiscal year 2021-22. 9 unions, under the banner of the United Forum of Bank Unions, have announced a nationwide strike on 15 and 16 March.

The members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers Confederation (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.

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