Srinagar: Bank Strike on December 16-17: Banking and ATM services across India are likely to be affected, starting Thursday. To protest against central government’s decision to privatize public sector banks, the Union Forum of Bank (UFBU), an umbrella body of 9 bank unions has called a two-day strike from December 16. State Bank of India, Punjab National Bank, Bank of Baroda and Central Bank of India and several other public sector bank services are likely to face disruption in the wake of bank strike.
Why Bank Unions are Going on a Strike on December 16-17
Finance minister Nirmala Sitharaman had announced in Union Budget 2021 that two public sector banks were going to be privatised during the current fiscal as part of the government’s Rs 1.75 lakh crore disinvestment target. 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 Centre had decided to introdue the 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 Centre to withdraw the Banking Laws (Amendment) Bill, 2021. It must be mentioned that the Bill might not be introduced during the winter session of Parliament.
“We reiterated our stand that if the government would assure that the Bank Privatisation Bill (Banking Laws Amendment Bill, 2021) would not be tabled during this session of the Parliament, we would be inclined to reconsider the strike but the government could not give any such assurance to us,” AIBEA General Secretary C H Venkatachalam said.
Who are Going to Participate in the Bank Strike?
UFBU is an umbrella body of nine bank unions, including AIBOC, All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW). The unions represented by the National Confederation of Bank Employees (NCBE), Indian National Bank Employees Federation (INBEF), Bank Employees Federation of India (BEFI) and National Organisation Of Bank Workers (NOBW) and officers’ organisations represented by the All India Bank Officers’ Confederation (AIBOC) and National Organisation of Bank Officers (NOBO) had decided to go on a strike on December 16 and December 17. Nearly nine lakh employees of state-run banks will participate in the nationwide protest.
State Bank of India, Punjab National Banks Services 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 cautioned the users that banking services will be hit during the two-day bank strike this week. Along with the normal functioning of the branches, ATM services are also going to be affected during bank strike. “We advise that while the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the days of Strike, it is likely that work in our Bank may be impacted by the Strike,” the State Bank of India earlier mentioned in a regulatory filing.
“While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted by the strike,” PNB said in a statement. Central Bank of India earlier mentioned that it is taking all necessary steps in terms of the existing guidelines to deal with the strike and for the smooth functioning of its branches and offices. However, banking services are likely to be impacted, the lender said.
