Government Bank Employees On 2-Day Strike Ends, Services Affected Across India

The two-day nationwide financial institution strike referred to as by United Forum of Bank Union ended on Friday, impacting regular operations throughout the nation. Lakhs of workers of public sector banks have been on strike to protest towards the proposed privatisation of banks by the federal government. Banks will work as normal on Saturday, as it's a working day.United Forum of Bank Union (UFBU) is an umbrella physique of 9 financial institution unions, together with All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).Services like deposits and withdrawal at branches, cheque clearance and mortgage approvals remained paralysed because of the two-day strike. ATMs at completely different components of the nation went dry on the second day.Government treasury operations, negotiating of import and export payments, grant of loans, money transactions, and so on. weren't attainable and clearing operations have been affected.In the three clearing centres of Mumbai, Delhi and Chennai, about 39 lacs cheque value about Rs 37,000 crore couldn't be taken up for clearance, (AIBEA) normal secretary C H Venkatachalam mentioned.AIBOC General Secretary Soumya Dutta mentioned that about 7 lakh financial institution workers throughout the nation enthusiastically participated within the two-day strike.In the Union Budget offered in February, Finance Minister Nirmala Sitharaman had introduced the privatisation of two public sector banks (PSBs) as a part of its disinvestment plan.To facilitate privatisation, the federal government has listed the Banking Laws (Amendment) Bill, 2021, for introduction and passage through the present session of Parliament.The authorities has already privatised IDBI Bank by promoting its majority stake within the lender to LIC in 2019 and merged 14 public sector banks prior to now 4 years. PTI DP DP BAL BAL