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Banking services may be disrupted nationwide for two days this month.Check the reason

A nine-union union forum (UFBU) affiliate has two days of strikes on March 15 and 16 to show their disapproval of the central government’s proposal to privatize two major state-owned lenders. Requested.

Canara Bank, a public sector lender, said the proposed strike could disrupt banking services across the country.

“From the Indian Bankers Association (IBA), the United Forum of Bank Unions (UFBU) strikes in the banking industry on March 15 and 16 on issues related to the industry level rather than the industry level. I was informed that I had called for a bank-level issue, “said Canala Bank in a regulatory filing.

However, Canara Bank said it will take the necessary steps to ensure the smooth functioning of its branches / offices.

“But if a strike occurs, it can affect the functioning of the branch / office,” he added.

It should be noted that in a federal budget speech, Finance Minister Namara Sisaraman announced that the Center would privatize two public sector banks (PSBs) as part of its investment reduction program.

Members of UFBU include Bank of India Employees Association (AIBEA), Bank of India Officers Federation (AIBOC), National Bank Employees Federation (NCBE), Bank of India Officers Association (AIBOA), Bank of India Employees Federation Will be. Protest. Other organizations include the National Bank of India Employees’ Federation (INBEF), the National Bank of India Board of Directors (INBOC), the National Bank Workers’ Organization (NOBW), and the National Bankers’ Organization (NOBO).

Why are banks protesting?

Bankers are opposed to privatizing banks and interfering with government-related businesses in the private sector.

I am particularly concerned about the statement made by Namara Sisalaman during her time budget speech. She said the private sector has become able to engage in government-related businesses such as tax collection, pension payments and small savings schemes.

Recently, the Bank of India Employees’ Association (AIBEA) stated that private sector involvement in government-related businesses is “unfair” and needs to be withdrawn.

Banking services may be disrupted nationwide for two days this month.Check the reason

Source link Banking services may be disrupted nationwide for two days this month.Check the reason

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