Bank union strike today About nine lakh employees of public sector banks are going on a two-day strike today against the decision of the Central Government to privatize two banks. The strike is scheduled for December 16 and 17. The strike has been called by the United Forum of Bank Unions (UFBU), which will affect the services of State Bank of India, Punjab National Bank, Bank of Baroda and Central Bank of India. among others.
To avoid inconvenience to the customers, SBI has urged its employees to call off the strike, however, the union is adamant against the government’s decision.
@AshishTekale_ Nanupam Connects @UFBUIndia
The anti-privatization movement has gained momentum with a two-day symbolic strike. It will accelerate with time. Arise, awake and stop not till the goal is achieved.#strikehard https://t.co/kINp8HZbmh pic.twitter.com/KtQocwHWOb— Sanjay Das (@sanjaybpi) December 15, 2021
SBI appeals to its employees, “We request our staff members to reconsider their decision and refrain from participating in the proposed strike on 16th and 17th December 2021 in the interest of our customers, investors and the Bank.” via a tweet on Dec.
An appeal to all bank employees. pic.twitter.com/EZFGpfnK0a
— State Bank of India (@TheOfficialSBI) December 13, 2021
Apart from SBI, the Central Bank and Punjab National Bank also urged the employees to refrain from participating in the strike.
why does the strike happen
In the Union Budget for 2021, Finance Minister Nirmala Sitharaman had announced that the central government is going to privatize two banks as part of their disinvestment target of Rs 1.75 lakh crore. For the same, the government has decided to introduce the Banking Laws (Amendment) Bill, 2021 in the Parliament during the ongoing winter session.
The bill will amend the mandatory clause for the government to hold 51 per cent stake in public sector banks at all times and reduce it to 26 per cent. However, which two banks will be privatized, it is not yet decided. On Monday, Finance Minister Sitharaman told the Lok Sabha that the committee has not yet decided on two candidates for privatization.
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