Almost half of the bank work is done online today through official websites and mobile applications. However, there is a huge section of society that does bank transactions visiting their nearest branches. Banking operations in India to be now affected massively on March 15 and 16 as the All India Bank Employees Association (AIBEA) stated that around 10 lakh bank employees would go on a nationwide strike for two days. The decision commenced because the conciliation meeting apparently didn’t bring out expected results for the bank employees.
For the unversed when the official announcement for Budget 2021-22 was done recently, the Indian Finance Minister Nirmala Sitharaman mentioned the privatization of Public Sector Banks (PSBs) during the speech. She stated that this would take place as part of a disinvestment drive to garner Rs 1.75 lakh crore. Soon the strike has been called to protest against the proposed privatization of two state-owned banks by the Centre. The Reserve Bank of India (RBI) reportedly mentioned that the banking operations will remain closed in the month of March 2021 on the selected dates.
C H Venkatachalam, the general secretary of AIBEA apparently said that the strike will be against the government’s decision to privatize a few banks.
The UFBU consists of nine major unions including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), Indian National Bank Employees Federation (INBEF), Bank Employees Federation of India (BEFI), Indian National Bank Officers’ Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).
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