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Banking operations may be hit across the country as the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has called for a two-day nationwide strike beginning Monday to protest against the proposed privatisation of two state-owned lenders.
Around 10 lakh bank employees and officers will participate in the strike due to which services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected.
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Since the banks will be closed for four days straight, people can experience difficulties withdrawing money from ATMs and bank branches.
UFBU, an umbrella body of nine unions including the All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), Bank Employees Confederation of India (BEFI), 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), announced the decision in this regard in a statement.
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This comes as Finance Minister Nirmala Sitharaman had in the Union Budget presented last month announced the privatisation of two Public Sector Banks (PSBs) as part of the Centre’s disinvestment plan.
The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 besides merging 14 Public Sector Banks in the last four years.
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