In the new year, the major union of the banking sector are set to strike. According to news agency IANS, the major unions in the banking sector decided to participate in the general strike organized by the central trade unions on 8 January 2020. This information was given by a top leader of All India Bank Employees Union (AIBEA). In the event of a strike by the employees of the banks, the functioning of the customers may be affected. AIBEA general secretary CH Venkatachalam said that 10 central trade unions are supporting the nationwide general strike. According to Venkatachalam, this strike will be carried out against the anti-labor policies of the central government, in which demands related to job security, job creation and to stop amendments in labor laws will be made.

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Venkatachalam said that the major unions associated with the banking sector joining this strike will be AIBEA, AIBOA, BEFI, INBEF, and INBOC. Venkatachalam claimed that Reserve Bank of India (RBI) employees will also join the strike. Apart from this, the employees of Cooperative Bank, Regional Rural Bank (RRB), Life Insurance Corporation of India (LIC) and General Insurance Sector have also supported the strike.

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Different employee unions are opposing the government's decision to merge banks. About 3 months ago, Finance Minister Nirmala Sitharaman announced the merger of 10 banks. After this, 4 new banks will come into existence. Apart from this, Andhra Bank, Allahabad Bank, Syndicate Bank, Corporation Bank, United Bank of India and Oriental Bank of Commerce will not exist. The unions of the bank say that this merger will lead to jobs in the banking sector.

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