Bank Strike Update: Bank unions have called for a two-day strike this week in protest against the Modi government’s plan to privatize public sector banks. According to a report in PTI, All India Bank Officers’ Confederation (AIBOC) general secretary Sanjay Das said that privatization will hurt the priority sectors of the economy and loans to self-help groups and rural economy will also be affected.
SBI services may be affected
State Bank of India (SBI) on Friday said the two-day strike on December 16-17 called by the United Forum of Bank Unions (UFBU) is likely to affect the normal functioning of the bank.
SBI has said, “We have been informed by the Indian Banks’ Association (LBA) that the United Forum of Bank Unions (UFBU) has given notice of strike, informing that the members of the constituent associations of UFBU such as AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC have proposed to go on nationwide bank strike on 6 and 7 December 2021 in support of their demands. At the same time, SBI also said that it has ensured normal functioning of its branches during the strike. Necessary arrangements have been made to do so.
Why the strike call
All India Bank Officers’ Confederation (AIBOC) general secretary Sanjay Das said that if the government does not give up on the idea of privatization of banks, besides the two-day strike, a series of other agitational programs will be organized. Union Finance Minister Nirmala Sitharaman in her 2021 budget speech said that two public sector banks will be privatized during the current financial year.
