Several big banks are likely to suspend their services due to the two-day nationwide bank strike this week.
The United Forum of Bank Unions (UFBU) is set to go on a strike this week which will last two days. During this period, the services of several big banks like SBI, PNB, and others will be affected, according to the official statements posted on their social media handles.
The UFBU will go on a strike for two days this week, from December 16. The union is going on strike to protest against the government's plan to privatise public sector banks. “Privitising PSBs will hurt the priority sector of the economy and also credit flow to self-help groups and to rural economy,” said Sanjay Dar, general secretary of All India Bank Officers Confederation (AIBOC), as per PTI.
During this time, the banking services of several big banks in India are likely to be affected across the nation. Banks such as State Bank of India and Punjab National Bank have made this announcement on their Twitter handles, urging their employees to reconsider their decision of going on strike.
In their official statements, several big banks such as the State Bank of India (SBI), Punjab National Bank, Central Bank of India, Indian Bank, and UCO Bank have said their operations will be affected due to the bank strikes on December 16 and December 17.
Union Finance Minister Nirmala Sitharaman, during the budget speech of 2021, had announced that two public sector banks will be privatised during the current fiscal. This announcement sparked outrage among the banking union, and they decided to go on strike.
The central government has already merged 14 public sector banks in the last four years, and in 2019, has privatised IDBI Bank by selling its majority stake in the lender to LIC. The Centre had also talked about introducing the Banking Laws (Amendment) Bill 2021 in the ongoing Winter session of the Parliament.
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