Bank Strike: The government’s move to handover private banks to the bank’s strike against March 15-16 against this move may affect the functioning of the State Bank of India (SBI). The public sector bank said in an exchange filing that the Indian Banks Association -IBA has reported that the United Forum of Bank Unions (United Forum of Bank Unions -UFBU) strike in the banking industry on March 15 and March 16. Has announced
Whatever your bank related work is done, do not complete it tomorrow or on Friday, then work can be stuck for a long time. Because the second Saturday of the month of Friday will be a Sunday holiday. After this the bank strike. In such a situation, banks can remain closed for 4 days.
The filing further states that the bank has made all arrangements for normal functioning in its branches and offices. But there is a possibility that the functioning of the bank may be affected. 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. 9 unions, under the banner of the United Forum of Bank Unions, have announced a nationwide strike on 15 and 16 March.
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.
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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