Two-day bank strike from today, banking services to be hit: 5 things to know

New Delhi: Starting today, close to 9 lakh bank employees are going on two-day nationwide strike against government’s move to privatize two public sector banks. Most of the public sector banks including SBI, PNB, Bank of Baroda are likely to be closed to protest against government’s unilateral move to turn public banks into private entity.

Banking services are likely to be hit, so are the ATMs. The latter will be operational but once cash dries out, there won’t be any replenishments because there won’t be supporting staff at the bank branches.

Why the bank strike

The bank strike called by an umbrella body of bank employees took this step over government’s expeditious move towards privatisation.

The bank employees are upset and agitated as they wanted proposed Banking Laws (Amendment) Bill 2021 to be delayed. According to reports, the bill may be tabled in the current session of Parliament only.

5 things to know about bank strike

1) The two-day bank strike call was given by various Unions which include FBU, All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW). Most branches across the country are likely to remain shut for the period.

2) Banks have alerted the customers in advance that services like cheque clearing, draft demand would be delayed pertaining to strike.

3) Other services like deposits and withdrawal at branches, cheque clearance and loan approvals will also remain affected for the period.

4) The Bank Unions are up in arms ever since the Centre proposed in Budget 2021-2022 that loss-making public sector lenders will be privatised to make their record books green again.

5) State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Punjab & Sind Bank and RBL Bank are among the worst affected.