On coming Monday and Tuesday, banking operations across the country could be impacted as United Forum of Bank Unions has given a call for strike to protest against Bank privatization. Due to strike services such as deposits and withdraws at branches, cheque clearance and loan approvals would be affected due to the strike. UFBU said in statement that 10 lakhs bank employees and officers of the banks will participate in the strike.
In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks as part of the governments disinvestment plan. And the Government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 3019 and has merged 14 public sector banks in the last four years.
Members of UFBU include,
Others are Indian National Bank Employees Federation, Indian National Bank Officers Congress, National Organisation of Bank Workers and National Organisation of Bank officers.