Bank branches throughout the country would remain closed for the next four days, including a two-day weekend holiday, and a two-day nationwide strike beginning Monday.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, will go on a two-day strike on March 15 and 16 to protest against the proposed privatisation of two state-owned banks.
Since today and tomorrow are second Saturday and Sunday respectively, the banks will be closed and the two-day strike which follows on Monday and Tuesday is a further extension to the disruption of bank services.
Due to this, the services in the public sector banks are likely to be impacted for the next four days.
However, ATM, mobile and internet banking will remain functional.
Most of the private banks are expected to function normally on the days of the strike.
About 10 lakh bank employees and officers of the banks will participate in this two-day strike. Along with AIBEA the bank unions of All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers Association (AIBOA) and Bank Employees Confederation of India (BEFI), National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO), among others have given a call for a strike.
The dissent comes as a result of the Budget announcement made by the Union Finance Minister Nirmala Sitharaman which included public sector banks as part of the Centre’s disinvestment plans.
The announcement included the privatisation of two public sector banks (PSBs) as part of a disinvestment plan to generate Rs 1.75 lakh crore.
It is to be noted that, the government has already privatised IDBI Bank by selling its majority stake to LIC in 2019.