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The strike comes in the wake of Finance Minister Nirmala Sitharaman s announement in the Union Budget 2021-22 of privatisation of two public sector banks (apart from IDBI Bank) as part of the governmentâs disinvestment drive to generate Rs 1.75 lakh crore. The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions has decided to call the strike.
The IDBI Bank is already privatised by the government by selling its majority stake to the Life Insurance Corporation of India (LIC) in 2019 and merged 14 public sector banks in the last four years.
State Bank of India explaining the consequences of the strike had said, We inform that, we have been advised by lndian Banks Association lBA that United Forum of Bank Unions UFBU which comprises 9 major Unions, viz. All lndia Bank Employeesâ Association AIBEA, All India Bank Officersâ Confederation AIBOC, National Confederation of Bank Employees NCBE, All lndia Bank Officersâ Association AIBOA, Bank Employe
Banking services hit across country due to 2-day bank strike
On the first day of the strike, about 85 lakh cheques and other bank instruments were not cleared by bank branches in Mumbai alone.
BusinessToday.In | March 16, 2021 | Updated 22:40 IST
The United Forum of Bank Unions had called the two-day strike to protest against the Centre s decision to privatise public sector banks.
The two-day strike called by bank employees union, ending Tuesday, severely hit banking services across the country.
The United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank unions, had called the two-day strike to protest against the Centre s decision to privatise public sector banks.
Banks remain shut on the second day, in the wake of a two-day nationwide strike. (Photo/ANI)
Strike called by UFBU enters Day 2, banks remain shut in Mumbai, Panchkula, Siliguri ANI | Updated: Mar 16, 2021 12:35 IST
Mumbai, Panchkula, Siliguri (Maharashtra, Haryana, West Bengal) [India], March 16 (ANI): Bank employees continued with their nationwide strike on Tuesday, for the second day, following the call of the United Forum of Bank Unions (UFBU). Like all other parts of the country, it has impacted services and operations in Mumbai, Panchkula and Siliguri.
The strike called by the UFBU against privatisation of Public Sector Banks and retrograde banking reforms .