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PSU bank strike; all details you need to know

According to union leaders, about nine lakh employees of various state-run banks began a two-day nationwide strike on December 16 to protest the government’s decision to privatize two public sector lenders.

The United Forum of Bank Unions called a two-day strike on December 16 and 17. (UFBU). Around 60,000 bank employees in Maharashtra alone will go on strike.

The majority of banks, including the State Bank of India (SBI), have issued warnings to its customers about the strike’s potential impact on banking activities such as check processing and fund transfer.

The All India Bank Officers’ Confederation (AIBOC) General Secretary Soumya Datta claimed that a conciliatory meeting before the Additional Chief Labor Commissioner on December 15 failed, thus unions are going forward with their planned strike.

The government declared its intention to privatize two public sector banks (PSBs) during the year in Budget 2021-22.

In the interest of customers, investors, and banks, all public sector lenders, including SBI, asked unions to reconsider their decision and desist from participating in the strike on December 13.

SBI had stated that resorting to a strike would cause tremendous trouble to the stakeholders due to the existing pandemic crisis.

All you need to know about the Two-Day Bank Strike

– The walkout involved around nine lakh employees from several state-run banks. On December 1, employees and trade unions launched the ‘Bank Bachao, Desh Bachao’ protest campaign at New Delhi’s Jantar Mantar.

– Since the Center declared its intention to privatize two PSU lenders in its Budget 2021-22, unions have been protesting.

– “We have been informed by the Indian Banks’ Association (lBA) that the United Forum of Bank Unions (UFBU) has served a Notice of Strike, informing that members of UFBU constituent unions AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, and INBOC propose to go on a nationwide bank strike on December 16 and 17, 2021 in support of their demands.” While the bank has made the appropriate precautions to maintain normal operation in its branches and offices on strike days, we advise that it is likely that work in our Bank may be impacted by the strike,” SBI said in an exchange filing earlier.

– In a tweet, SBI urged its employees to reconsider their choice and not participate in the strike. “Furthermore, given the current pandemic crisis, turning to a strike will create considerable inconvenience to stakeholders,” the message continued.

– The State Bank of India (SBI) had already issued a warning to clients about the potential impact of the statewide strike on banking operations.

– Lenders such as Canara Bank, PNB, Punjab and Sind Bank, and Punjab and Sind Bank had previously encouraged their employee unions to reconsider their plans.

– Tamil Nadu’s ruling DMK has pledged its support for a two-day national strike. Durai Murugan, the party’s general secretary and a state minister, wished the strike success and pledged his party’s “complete support” for the protest.

– During the current Winter Session of Parliament, the government has chosen to present the Banking Laws (Amendment) Bill, 2021. The bill’s goal is to privatize public banks. – Bank unions affiliated with the United Forum of Bank Unions (UFBU) have organized a strike for December 16 and 17 to protest the proposed privatization of public sector banks.

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