Banks on strike against Privatization on MARCH 15 and 16

Key Points:

• The Banks will remain close from March 15 and March 16 as the they are all going on a strike in order to go against the propose privatization of two state-owned lenders by the government.
• The Public and Private banks will be physically shut but mobile and internet banking functions will remain unaffected on these holidays.
• Public sector banks (PSBs) in India under the umbrella body of Union Forum of Bank Unions (UFBU) of nine unions are set to go on a protest.

The Banks will remain close from March 15 and March 16 as the they are all going on a strike in order to go against the propose privatization of two state-owned lenders by the government. While March 13 and 14 are the second Saturday and Sunday, bank unions have called a nationwide strike on March 15 and 16.

The Public and Private banks will be physically shut but mobile and internet banking functions will remain unaffected on these holidays. Bank account holders, if have any plans to visit the bank in the next week, they should plan their visits according to the bank strike dates.

The strike is planned nationwide and it is to go against the planned privatization of the sector as announced by Finance Minister Nirmala Sitharaman.

Public sector banks (PSBs) in India under the umbrella body of Union Forum of Bank Unions (UFBU) of nine unions are set to go on a protest. The strike is also reasoned to go against the Centre’s decision to allow all private-sector lenders in the government-related business.

The public sector bank said in its exchange filing that it has been “advised by Indian Banks Association (IBA) that United Forum of Bank Unions (UFBU)… has given a call for all India strike by bank employees on 15th & 16th March 2021,” Business Today reported.

These unions comprise of:

1) All India Bank Employees’ Association (AIBEA)

2) All India Bank Officers’ Confederation (AIBOC)

3) National Confederation of Bank Employees (NCBE)

4) All India Bank Officers’ Association (AIBOA)

5) Bank Employees Federation of India (BEFI)

6) Indian National Bank Employees’ Federation Federation of Canara Bank Employees’ Congress (INBEF)

7) Indian National Bank Officers’ Congress (INBOC)

8) National Organisation of Bank Workers (NOBW)

9) National Organisation of Bank Officers (NOBO)

General Bank Holidays apart from the Strike Dates in March:

Renu Valke

See author's posts