Bank operations may be hit on Mon, Tue due to nationwide unions' strike
Banking operations across the country could be impacted on Monday and Tuesday as United Forum of Bank Unions (UFBU) has given a call for a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Banking operations across the country could be impacted on Monday and Tuesday as United Forum of Bank Unions (UFBU) has given a call for a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected due to the strike.
See Zee Business Live TV Streaming Below:
UFBU, an umbrella body of nine unions, in a statement claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.
Many public sector lenders, including State Bank of India (SBI) have informed their customers that their normal working could be affected at the branches and offices if the strike materialises.
Banks have also informed that they are taking necessary steps for the smooth functioning of bank branches and offices.
In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of the government's disinvestment plan.
The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and has merged 14 public sector banks in the last four years.
Conciliation meetings - before the Additional Chief Labour Commissioner on March 4, 9 and 10 - did not yield any positive result, so the strike stands, All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam said.
Members of UFBU include 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 Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).
The story has been taken from a news agency
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
04:20 PM IST