Two-Day Bank Strike From Today, Unions Warn Of Indefinite Stir To ‘Stop Privatization’

Members of the United Forum of Bank Unions (UFBU) have announced to go on a two-day nation-wide strike from today (December 16) protesting Union Government’s proposal of privatization of nationalized banks and also the introduction of the Banking Laws (Amendment) Bill, 2021.

The proposed Bill for privatization of two public sector banks is slated to be introduced in the ongoing winter session as part of the government’s Rs 1.75 lakh crore disinvestment target. Business transactions and banking operations are likely to get severely affected as over 1 million employees and the officers of various state-run banks are expected to take part in the two-day strike.

If reports are anything to go by, nearly 21,000 bank employees from more than 4,000 branches across Odisha will participate in the 2-day bank strike to stop privatization. In India, close to 1.6 lakh branches are likely to remain closed. UFBU Convener B Rambabu told a news agency that the members and officers are ready to go to any extent, including an indefinite strike, in case the government goes forward with the Bill in the Parliament.

It is pertinent to note that the State Bank of India (SBI) and other lenders including Canara Bank, Bank of India, PNB, Central Bank of India and others had urged employees to reconsider their plan citing that resorting to strike will cause great inconvenience to stakeholders.

However, General Secretary of the All India Bank Employees Association said government did not give any assurance that the Bill will not be introduced in the session, which is why the unions decided to go ahead with the strike.

Video Editor: Surendra Pradhan

Producer: Diptyranjita Patra