2-day bank strike from today, banking services are likely to be hit: 10 points


2-day bank strike from today: Employees of several state-owned banks, including the State Bank of India (SBI), will go on a two-day strike from today. The United Forum of Bank Unions (UFBU), an umbrella body of 9 banking associations, has convened a two-day bank strike starts today to protest the government’s decision to privatize more banks in the country.

Here are 10 things to know about the 2-day bank strike:

1) Close to nine lakh employees from various state-run banks are participating in the strike.

2) The ruling DMK in Tamil Nadu has expanded support for the two-day nationwide strike. The party’s general secretary and prime minister, Durai Murugan, wished the strike success and announced his party’s “total support” for the protest.

3) Banking associations under the umbrella of the United Forum of Bank Unions (UFBU) have launched a strike on 16 and 17 December against the proposed privatization of public sector banks.

4) The unions have been protesting ever since the center in its budget 2021-22 announced its intention to privatize two public lenders.

5) The State Bank of India (SBI) had already warned customers about the possible impact of the nationwide strike on banking operations.

6) “We have been informed by the Indian Banking Association (IBA) that the United Forum of Bank Unions (UFBU) has sent a notice of strike informing that the members of UFBU’s constituent unions, ie AIBEA, AIBOC, NCBE , AIBOA, BEFI, INBEF and INBOC propose to go on a nationwide bank strike on 16 and 17 December 2021 in support of their demands.We recommend that although the bank has taken the necessary measures to ensure normal operation in its branches and offices on the days of the strike, it is likely that the work of our bank may be affected by the strike, “SBI said in a stock exchange file earlier.

7) SBI urged in a tweet its employees to reconsider their decision and refrain from participating in the strike. “Furthermore, given the ongoing pandemic situation, resorting to a strike will cause major inconvenience to stakeholders,” the tweet said.

8) Former lenders, including Canara Bank, PNB, Punjab and Sind Bank, among others, had urged employee unions to reconsider their plan

9) The government has decided to present the bill on banking laws (amendment) 2021 during the Folketing’s ongoing winter meeting. The bill aims to privatize public banks.

10) The workers and unions had started a protest campaign ‘Bank Bachao, Desh Bachao’ at Jantar Mantar in New Delhi on 1 December.

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