Bank strike today as some unions protest public sector banks mergershttps://indianexpress.com/article/business/banking-and-finance/bank-strike-by-unions-today-to-protest-against-mergers-6081218/

Bank strike today as some unions protest public sector banks mergers

Most of the banks including the country’s largest lender, State Bank of India (SBI), have already informed customers about the strike and its impact on them.

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Last month, officers’ unions had called a two-day all India bank strike on September 26 and 27, which was later withdrawn following the government’s intervention.

The operations of public sector banks (PSBs) are likely to be affected on Tuesday as some of the employees’ unions have decided to observe nation-wide strike to protest against the merger of 10 nationalised banks.

However, officers and private sector banks are not part of the call for strike given by All India Bank Employees Association and Bank Employees Federation of India .

Most of the banks including the country’s largest lender, State Bank of India (SBI), have already informed customers about the strike and its impact on them.

“The government’s decision is most unfortunate and totally unwarranted. All the banks which are facing closures, namely Andhra Bank, Allahabad Bank Syndicate Bank, Corporation Bank, United Bank of India and Oriental Bank of Commerce are well performing banks and have been greatly contributing to the nation’s economic development,” said a joint statement from central trade unions.

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In the absence of any positive outcome in the meeting called by Chief Labour Commissioner, it has been decided to go ahead with the strike, AIBEA General Secretary C H Vekatachalam said. The meeting held before Chief Labour Commissioner between representatives of Indian Banks’ Association and unions failed to reach to a common ground.

“Hence our call for strike stands. We exhort all our unions and members all over the country to go ahead with the strike,” he said.

“The membership of our bank employees in unions participating in strike is very few, so the impact of strike on banks operation will be minimal,” SBI said in a filing to stock exchanges last week.

Another public sector lender Syndicate Bank said: “The bank is taking necessary steps for smooth functioning of branches on the proposed strike day. However, in the event the strike materialises, the functioning of the branches/offices may be impacted”.

Last month, officers’ unions had called a two-day all India bank strike on September 26 and 27, which was later withdrawn following the government’s intervention.