Bank Strike Affected All India Banking Services, More Then 18,600 Crore Rupees Check Transaction On Hold


Bank Strike Effect: Yesterday and today, people had to face difficulties due to the strike of employees of government banks in the country. About nine lakh employees of public sector banks began a two-day strike on Thursday to protest against the privatization of public sector banks. The functioning of these banks was affected across the country on the first day of the strike. The customers of these banks had to face difficulties due to the suspension of services like deposits and withdrawals, check transactions and loan approvals due to the closure of the banks.

Which organizations have called strike
The strike has been called by the United Forum of Bank Unions (UFBU), a forum of nine bank unions including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Bank Employees’ Organization (NOBW). Employees are on strike against the government’s decision to privatize two more public sector banks in the current financial year. The government had announced the privatization of two public sector banks in the budget for the financial year 2021-22.

All categories of employees of the bank are participating
Several branches of state-run banks like State Bank of India (SBI), Punjab National Bank and Bank of India remained closed on Thursday with customers informed about the strike. Employees unions said that apart from public sector banks, some employees of older generation private banks and regional rural banks also joined the strike. He said that officers of all classes, from sanitation workers to senior officers, are taking part in this two-day strike. State-run banks, including State Bank of India, had already informed customers that services at their branches may be affected due to the strike.

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What do the secretaries of different bank unions have to say
According to AIBEA general secretary CH Venkatachalam, transactions involving 20.4 lakh checks worth Rs 18,600 crore could not be done on Thursday. Venkatachalam said that many political parties including Congress, DMK, CPI, CPI(M), Trinamool Congress, NCP and Shiv Sena have supported the strike. Venkatachalam said, “Public banks work as a catalyst in the economic development of our country in general and for the underprivileged sections of the society in particular and backward areas of the country. , Small Business, Small Scale Industries, Small Scale Industries (SSI), Transport and upliftment of weaker sections of the society.” The strike has affected the functioning of more than one lakh branches of banks and regional rural banks.

How was the situation in Maharashtra-West Bengal
Devidas Tuljapurkar, state coordinator of UFBU in Maharashtra, said that the employees unions of Life Insurance Corporation of India (LIC) and Reserve Bank of India have also supported the strike. UFBU coordinator in West Bengal Gautam Niyogi claimed that there was a complete strike in the state.

AIBOC also warned for the future
AIBOC general secretary Sanjay Das said that if the government does not give up the idea of ​​privatization of public sector banks, there will be many more protests besides the two-day strike. He said that this move of the government will hurt the private sectors of the economy as well as the flow of credit to self-help groups and the rural economy will also be affected. Das said that about 70 per cent of the country’s deposits are with public sector banks and by handing them over to private capital, the money of the common man will be put at risk.

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Massive protests in Chennai, Jaipur, Mumbai in Maharashtra
A section of bank employees in Chennai protested wearing black badges and raised slogans against the Centre’s decision to move. At the same time, in Rajasthan’s capital Jaipur, bank employees protested outside the SBI office near Ambedkar Circle. In Maharashtra, about 60,000 employees of public sector banks took part in the strike. 5000 bank employees protest at Azad Maidan in Mumbai.

The Finance Minister had announced the privatization of banks
Significantly, in the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatization of two public sector banks under the Centre’s disinvestment plan. To facilitate privatization, the government has listed the Banking Laws (Amendment) Bill, 2021 for introduction and passage during the current session of Parliament. The government had earlier privatized the bank in 2019 by selling its majority stake in IDBI to LIC and also merged 14 state-run banks in the last four years.

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