Bank strike on December 16-17: Banking and ATM services are likely to be affected across the country from Thursday. Union Forum of Banks (UFBU), an umbrella body of nine bank unions, has called for a two-day strike from December 16 to protest the Centre’s decision to privatize public sector banks. State Bank of IndiaPunjab National Bank, Bank of Baroda and Central Bank of India and several other public sector bank services may face disruption in the wake of the bank strike.
Why are bank unions going on strike on 16-17 December?
Finance Minister Nirmala Sitharaman had announced in the Union Budget 2021 that two public sector banks would be privatized during the current fiscal as part of the government’s disinvestment target of Rs 1.75 lakh crore. To amend the provision in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which makes it mandatory for the government to hold 51 per cent stake in public sector banks at all times, the Center had decided to introduce banking laws (Amendment) Bill, 2021 in the ongoing winter session of Parliament. The new bill will reduce the government’s minimum shareholding to 26 per cent. Bank unions are urging the Center to withdraw the Banking Laws (Amendment) Bill, 2021. It should be mentioned that the Bill cannot be introduced during the winter session of the Parliament.
“We reiterated our stand that if the government assures that the Bank Privatization Bill (Banking Laws Amendment Bill, 2021) will not be introduced during this session of Parliament, we would be willing to reconsider the strike but the government cannot give us that. Assurance,” said AIBEA general secretary CH Venkatachalam.
Who is going to participate in the bank strike?
UFBU is an umbrella body of nine bank unions, which include AIBOC, All India Bank Employees Association (AIBEA) and National Bank Employees Organization (NOBW). Unions represented by the National Confederation of Bank Employees (NCBE), National Bank Employees Union of India (INBEF), Bank Employees Union of India (BEFI) and National Organization of Bank Employees (NOBW) and All India Officers’ Associations represented by the Officers’ Confederation (AIBOC) ) and the National Organization of Bank Officers (NOBO) had decided to go on strike on December 16 and December 17. Around nine lakh employees of public sector banks will participate in the nationwide protest.
Services of State Bank of India, Punjab National Bank to be affected:
State Bank of India, Punjab National Bank, Central Bank of India, Bank of Baroda, Canara Bank, Punjab and Sind Bank and RBL Bank had already warned users that banking services would be affected during the two-day bank strike this week. . During the bank strike, the normal functioning of branches as well as ATM services are going to be affected. State Bank of India had earlier mentioned, “We advise that the Bank has made necessary arrangements to ensure normal functioning of its branches and offices during the strike days, but there is a possibility that the work in our Bank may be affected. ” A regulatory filing.
“While the bank has made all arrangements to ensure normal functioning of its branches and offices, there is a possibility that the strike may affect the work in our bank,” PNB said in a statement. The Central Bank of India had earlier mentioned that it is taking all necessary steps in terms of the existing guidelines for dealing with the strike and smooth functioning of its branches and offices. However, banking services are likely to be affected, the lender said.
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