As per media reports, the banking services might be affected for four days in March. The reason behind this development is that government bank employees have announced they may observe two days strike against the privatization of public sector banks (PSBs). This may lead to closure of banks for four days in March, said the report.
As in the Union Budget 2021, Finance Minister Nirmala Sitharaman announced privatization of two more PSBs, PSB employees have said that they might observe two days' strike in March as a result banking service shall be disrupted.
The proposal for the strike has been made for March 15 and 16. Other than that March 13 happens to be the second Saturday of the month and March 14 is a Sunday. Consequently, banks will be closed for 4 consecutive days in the month of March.
There is a sense of fear among employees as any small or big bank can be part of this government's privatization drive. And for the purpose unions of 9 banks have taken a call to go on strike protesting the move. In the last 4 years, a total of 14 banks have been privatized and in 2019, IDBI was also privatized.
Members of UFBU include All India Bank Employees Association, National Confederation of Bank Employees, All India Bank Officers' Association, All India Bank Officers' Confederation, and Bank Employees Confederation of India. Others are Indian National Bank Employees Federation, Indian National Bank Officers Congress, National Organisation of Bank Workers and National Organisation of Bank Officers.
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