Several big banks across the country will have their banking and ATM services disrupted for two days, starting today, because of the nationwide bank strike. The two-day bank strike is being observed on December 16 and 17, according to the bank unions.
The Union Forum of Banks (UFBU), which is an umbrella body of nine bank unions across the nation, is protesting the decision of the central government to privitise public sector banks, and thus, has called a two-day bank strike from December 16.
Several public sector banks such as the State Bank of India, Punjab National Bank, Central Bank of India, and many others will have their services disrupted due to the bank strike from today. The banking services are expected to resume properly from next week.
Banks such as the State Bank of India, Punjab National Bank, Central Bank of India, Canara Bank, Bank of Baroda, Punjab and Sindh Bank, and RBL Bank have formally announced that their banking services might remain suspended for the next two days.
These banks have announced that the administration has made all the necessary arrangements for the bank strike which is commencing from today, but it is still likely that the services might get interrupted. Earlier, banks had urged their employees and bank unions to come to an understanding and reconsider their decision to go on strike.
Union Finance Minister Nirmala Sitharaman, during the budget speech of 2021, had announced that two public sector banks will be privatised during the current fiscal. This announcement sparked outrage among the banking union, and they decided to go on strike.
The central government has already merged 14 public sector banks in the last four years, and in 2019, has privatised IDBI Bank by selling its majority stake in the lender to LIC. The Centre had also talked about introducing the Banking Laws (Amendment) Bill 2021 in the ongoing Winter session of the Parliament.
