Nationwide bank strike continues to impact PSB services on Day 2

Nationwide bank strike continues to impact PSB services on Day 2

Nationwide bank strike continues to impact PSB services on Day 2

New Delhi : The banking strike continued for a second day on Tuesday, led by the country's nine central banking unions (PSBs) in the country, in defiance of the government's lending policy.

Customers will be denied access to services such as withdrawals, deposits, check approvals, remittance services. Government transactions related to treasury and business transactions will also be affected.

Nationwide bank strike continues to impact PSB services on Day 2

Nationwide bank strike continues to impact PSB services on Day 2

The United Forum of Unions (UFBU), a nine-union federation, protested on March 15 and 16.

UFBU members include the All India Bank Employees Association (AIBEA), All India Bank Officers 'Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA) and Bank Employees Confederation of India ( BEFI).

Others are the Indian National Bank Employees Federation (INBEF), the Indian National Bank Officers Congress (INBOC), the National Organization of Bank Workers (NOBW) and the National Organization of Bank Officers (NOBO).

The unions on Monday said about 10 lakh workers across the country had joined the strike, calling it a "success".

Finance Minister Nirmala Sitharaman in his 2021-22 Union Budget speech said the government would add two more state-owned banks.

The government has already privatized IDBI Bank by selling most of the lenders to LIC in 2019 and consolidated 14 public sector banks over the past four years.

According to the call, on Monday, workers and officials joined the strike and the strike was "completely successful". The normal operations of banks were affected by the strike, said C V Venkatachalam, said AIBEA secretary general.

Even today (Tuesday), as we have received reports from our unions in various provinces, the strike has been successful. Many bank branches remain closed and shutters are missing, "he added.

He said the young workers had been at the forefront of the protests, which meant they understood the dangers of buying stocks.

They joined the banks after a very tough competition. They deserve job security that will be affected if banks are held in private. He said banks were profitable so there was no need to invest in them.

All government banks are efficient and profitable, he noted