Follow Us:
Sunday, December 15, 2019

Bank Strike Today HIGHLIGHTS: Services partially hit as employee unions protest public sector bank mergers

Bank Strike Today 22 October 2019 HIGHLIGHTS: All India Bank Employees’ Association (AIBEA) and Bank Employees Federation of India (BEFI) have called for the strike to protest against the recently announced bank mergers, falling deposit rates and outsourcing of jobs.

By: Express Web Desk | New Delhi | Updated: October 22, 2019 9:32:39 pm
Bank strike today, Bank strike today live , bank strike live updates, bank services hit, banking deposits, bank unions protest, bank unions protest merges, bank mergers, indian express Bank employees begin nation-wide strike on Wednesday in Vadodara.

Bank Strike Today HIGHLIGHTS: Banking operations in some parts of the country are affected as two employee-unions are observing a nation-wide strike today. Services like cash deposit and withdrawal at the counter and cheque clearances have been hit due to shortage of staff.

However, branches of public sector banks in urban areas are operational. Most of the banks including the country’s largest lender, State Bank of India (SBI), have already informed customers that the strike would have minimal impact on their operations. “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.

All India Bank Employees’ Association (AIBEA) and Bank Employees Federation of India (BEFI) have called for the strike from 6 am on Tuesday till 6 am on Wednesday in protest against the recently announced bank mergers, falling deposit rates and outsourcing of jobs. The unions said they are opposed to outsourcing of regular banking jobs and privatisation of the banking industry. They called for an increase in recruitment of clerical and sub-staff and stringent steps to recover mounting bad loans.

Live Blog

Services like cash deposit and withdrawal at the counter and cheque clearances have been hit due to shortage in banking staff.

Highlights

    20:36 (IST)22 Oct 2019
    Bank services in Kolkata hit as unions protest against mergers

    Photos | Some of the employees’ unions of public sector banks (PSBs) observe nation-wide strike to protest against the merger of 10 nationalised banks. 

    17:20 (IST)22 Oct 2019
    Banking services partially affected due to strike by employees

    Banking services remained affected on Tuesday as employees of state-run banks are on a nation-wide one day strike to protest against the government's mega-merger plan. In August, the government announced a plan to merge 10 public sector lenders into four to create fewer and stronger global-sized banks.

    It had announced four new sets of mergers of state-run banks-- Punjab National Bank taking over Oriental Bank of Commerce and United Bank of India; Syndicate Bank merging with Canara Bank; Union Bank of India will amalgamate with Andhra Bank and Corporation Bank; and Indian Bank will merge with Allahabad Bank. PTI

    15:42 (IST)22 Oct 2019
    Andhra Bank Award Employees' Union joins protest

    Andhra Bank Award Employees' Union join in the protest against mergers of 10 public sector banks, in Vijayawada. All India Bank Employees Association (AIBEA) & Bank Employees Federation of India (BEFI) have called all-India bank strike against bank mergers, today.

    13:17 (IST)22 Oct 2019
    What are the upside and downside of bank merger?

    Minister Nirmala Sitharaman last month announced the government’s decision to merge 10 state-owned banks to create four large entities or lenders. Under the plan, Oriental Bank of Commerce and United Bank of India will be merged with Punjab National Bank; Canara Bank with Syndicate Bank; Andhra Bank and Corporation Bank with Mumbai-based Union Bank of India; and Allahabad Bank with Indian Bank. That will mean a consolidation of banks in India from 27 before 2017, to 12 after the merger goes through. What are the upside and downside of this move? Read more...

    12:42 (IST)22 Oct 2019
    Bank employee union members protest in Bengaluru

    Members of All India Bank Employees Association and  Bank Employees Federation of India, protest against the proposed merger of Public sector banks in Bengaluru.(Photos: ANI)

    12:37 (IST)22 Oct 2019
    Welcome to Indian Express LIVE blog

    Welcome to Indian Express LIVE blog. Stay tuned for latest updates on nation-wide bank strike today.

    “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.

    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.