As employees of various public sector banks prepare to go on strike on March 15 and 16 over the Centre’s decision to privatise two state-owned lenders, banking services are likely to be hit across the country.
Banks were already closed on March 13 (second Saturday) and March 14 (Sunday), which now means a four-day break in regular banking operations. Services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected due to the strike. However, ATMs are likely to remain functional.
Operations at the state-owned banks may be hit across the country from Monday as United Forum of Bank Unions (UFBU) has given a call for a strike to protest against the proposed privatisation of two state-owned lenders. About 10 lakh bank employees and officers of the banks will participate in the strike, UFBU, an umbrella body of nine unions said in a statement. The nationwide bank strike will continue till 16 March.
Public sector lenders, including State Bank of India (SBI) have informed their customers that their normal working could be affected at the branches and offices if the strike materialises. Banks have also informed that they are taking necessary steps for the smooth functioning of bank branches and offices on the days of the proposed strike.
Ex-RBI governor Raghuram Rajan.said that while the 2021-22 Budget has placed a lot of weight on privatisation, the history of the government delivering on this is checkered, and he wondered how it will be different this time.
