March 12, 2021 3:08:00 am
Banking services across the country are likely to be hit on March 15 and 16 as the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, have called for a nationwide strike against the Central government’s move to privatise public sector banks. However, private banks like HDFC Bank, ICICI Bank and Kotak Mahindra Bank are expected to function normally. Cheque clearances are likely to be impacted till March 17.
UFBU represents around 10 lakh bank employees of PSU banks and old generation private banks. “We have been advised by Indian Banks Association (IBA) that UFBU has given a call for an all-India strike by bank employees on 15th and 16th March 2021,” SBI said.
SBI added the bank has made arrangements for the normal functioning, but it added that the work may be impacted by the strike.
Meanwhile, banks are scheduled to be closed on March 13 — second Saturday — and March 14, Sunday. In short, banking services are likely to be impacted for four days. However, ATMs are likely to be functional during these days. “Privatisation of banks is a negative step in a developing economy like India,” AIBEA General Secretary CH Venkatachalam said.
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