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Business Standard

Nationwide strike impacts banking services of public sector banks

Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the UFBU have gone on a nationwide strike

Topics
public sector banks | PSBs | Bank strike

Press Trust of India  |  New Delhi 


Bank employees nation-wide strike against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda, in New Delhi on Wednesday (Photo: Dalip Kumar)
Bank employees nation-wide strike against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda, in New Delhi on Wednesday (Photo: Dalip Kumar)

Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions (UFBU) have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.

UFBU, an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the will participate in the strike.

However, branches of private sector lenders like ICICI Bank, HDFC Bank and Axis Bank are open as they are not part of the strike.

In the Union Budget presented last month, Minister Nirmala Sitharaman had announced the privatisation of two (PSBs) as part of the government's disinvestment plan.

The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019, and has merged 14 in the last four years.

According to All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam, services at branch level; cheque clearance; and government transactions have been affected.

Besides, money markets and stock markets are also going to face problems as payments would be impacted, he said.

Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA) and Bank Employees Confederation of India (BEFI).

Others are the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, March 15 2021. 10:57 IST

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