Published On : Mon, Mar 15th, 2021

Strike cripples banking services in Nagpur

Nagpur: Banking services in Nagpur and across the country were crippled as the bank unions have called for a two-day nationwide strike on March 15 and 16 against the privatization of Public Sector Banks and retrograde banking reforms. Over 10 lakh bank employees and officers are participating in the strike called by the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions.

Banking services such as deposits and withdrawals at branches, cheque clearance, and loan approvals have been affected due to the strike.

All nine banks unions – All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Confederation (AIBOC), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) and the National Organisation of Bank Workers (NOBW) are taking part in the strike called by the UFBU.

The strike has left the customers a hassled lot as banks were already closed on March 13 (second Saturday) and March 14 (Sunday), leading to a four-day break in regular banking operations.

The strike comes after Union Finance Minister Nirmala Sitharaman’s Budget announcement where she announced the privatization of two public sector banks (apart from IDBI Bank) as part of the government’s disinvestment drive to generate Rs 1.75 lakh crore.