Banks unions call for two-day strike against proposed privatisation of PSBs

United Forum of Bank Unions (UFBU), an umbrella physique of 9 unions, has given a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders.

In the Union Budget offered final month, finance minister Nirmala Sitharaman had introduced the privatisation of two public sector banks (PSBs) as half of its disinvestment plan.

The authorities has already privatised IDBI Bank by promoting its majority stake within the lender to LIC in 2019 and merged 14 public sector banks within the final 4 years.

Conciliation conferences – earlier than the extra chief labour commissioner on March 4, 9 and 10 – didn’t yield any constructive outcome, All India Bank Employees Association (AIBEA) normal secretary C H Venkatachalam stated in an announcement.

“Hence, it has been decided to go ahead with the strike for 2 continuous days on March 15 and 16, 2021. About 10 lakh bank employees and officers of the banks will participate in the strike,” he claimed.

Most of the banks, together with the State Bank of India (SBI), have knowledgeable their clients in regards to the influence on functioning of branches and places of work if the strike materialises.

Banks have additionally knowledgeable that they’re taking vital steps for the graceful functioning of financial institution branches and places of work on the times of the proposed strike.

Members of UFBU embody 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 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).

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