In protest against the Centre’s move to privatize two public sector banks, around nine lakh bank employees of various public sector banks have started a two-day strike from December 16. Banking operations in India will face disruption on Friday as the strike continues. 17 December. State Bank of India, Punjab National Bank, Canara Bank, UCO Bank, Central Bank of India have warned users that banking services will be affected during the nationwide protests this week.
All you need to know about the two day bank strike on 16,17 December
1) In the Union Budget 2021, Finance Minister Nirmala Sitharaman announced privatization of the public sector lender to meet the Centre’s disinvestment target of Rs 1.75 lakh crore this fiscal. For this, the Central Government had decided to introduce the Banking Laws (Amendment) Bill, 2021 in the ongoing winter session of Parliament. The bill aims to amend a 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 new bill will reduce the government’s minimum shareholding to 26 per cent.
2) The umbrella body of nine unions including United Forum of Bank Unions (UFBU), All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organization of Bank Workers (NOBW) has called two of the unions. Day strike against the proposed bill
3) “Public Sector Banks are at the forefront of implementing all government schemes like Jan-Dhan Yojana, Social Sector Insurance Scheme and Mudra Schemes for the economically and socially backward sections of the society,” said UFBU Convenor (Maharashtra) said. Devidas Tuljapurkar Privatization may result in closure of bank branches in rural and backward areas, which may affect the implementation of various government schemes in these areas, he said.
4) Apart from public sector banks, some employees of older generation private sector banks and regional rural banks have also joined the banking strike on 16 December. There are also Employees Unions of Life Insurance Corporation (LIC) and Reserve Bank of India (RBI). Supporting the strike, the UFBU convenor told PTI-Bhasha.
5) State Bank of India had earlier mentioned that the normal functioning of branches and ATM services would be affected during the two-day bank strike. “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 due to the strike,” SBI said.
6) Services of Punjab National Bank, UCO Bank, Canara Bank, Bank of Baroda, Central Bank of India, RBL Bank, Punjab & Sind Bank will also be affected during the bank strike.
7) All India Bank Officers Confederation (AIBOC) general secretary Sanjay Das said that apart from the two-day strike, if the government does not drop the idea of privatization of PSBs, a series of other agitating programs will be launched.
8) “PSBs hold around 70 per cent of the country’s total deposits and handing them over to private capital will put the common man’s money deposited in these banks at risk,” Das said.
9) The ruling DMK in Tamil Nadu supported the two-day nationwide strike called by bank employees on 16 and 17 December. Party general secretary and Minister of State Durai Murugan wished the strike success and declared his party’s “total support” for the protest. In which about nine lakh employees of various public sector banks will participate.
10) There have been reports that the Center may not introduce the Banking Laws (Amendment) Bill, 2021 during the ongoing winter session of Parliament.
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