Bank unions go on nation-wide strike today

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Bank employees on strike

August 22, 2017

Bank unions are going on an all-India strike today to protest against the privatisation of public sector union (PSU) banks. The strike might disrupt the operations of the twenty one PSU banks, including IDBI Bank and the State Bank of india.  The United Forum of Bank Unions (UFBU) has called for this strike. UFBU is an umbrella organization of the nine PSU bank unions.

Business Today reports that most PSU banks might remain closed today, even though no announcement has been made in this regard. On August 7, C H Venkatachalam, the general secretary of AIBEA, said, “Nearly 10 lakh employees would participate in the strike to protest plans to privatise public sector banks, merger and consolidation of banks and other demands including not to write-off non-performing assets (NPAs) in banks.”

Other demands put forth by the unions include declaring wilful defaulting of loans a criminal offence, implementing the recommendations of Parliamentary Committee, abolishing Banks Board Bureau, reimbursement of expenses incurred during the demonetisation and Jan Dhan campaigns, and removal of Gratuity Ceiling under Payment of Gratuity Act, 1972, among others.

The strike will affect the customers of PSU banks as they often have to approach the branches for their banking needs. However, private sector banks like HDFC Bank, ICICI Bank, Axis Bank etc. will function as usual. The United Forum of Bank Unions will follow this strike with a massive rally on September 15.

Affected customers can take a few measures to avoid inconvenience. Read more about it here.

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