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Bank unions call for strike on 15 and 16 March against proposed privatisation of PSBs – Business News , Firstpost


Most of the banks, together with the State Bank of India (SBI), have knowledgeable their prospects concerning the impression on the functioning of branches and workplaces if the strike materialises

Banks underneath NPA stress. Image courtesy Wikimedia Commons

New Delhi: United Forum of Bank Unions (UFBU), an umbrella physique of 9 unions, has given a call for a two-day strike from 15 March 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 Additional Chief Labour Commissioner on 4, 9 and 10 March – didn’t yield any optimistic consequence, All India Bank Employees Association (AIBEA) common secretary C H Venkatachalam stated in an announcement.

“Hence, it has been decided to go ahead with the strike for 2 continuous days on 15 and 16 March 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 prospects concerning the impression on the functioning of branches and workplaces if the strike materialises.

Banks have additionally knowledgeable that they’re taking vital steps for the sleek functioning of financial institution branches and workplaces 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 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).

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