Strike hits banking services

Mumbai/New Delhi: Banking services such as cash withdrawals, deposits, cheque clearing and business transactions were impacted across the country on Monday, the day one of the PSU bank unions strike, against the proposed privatisation of two more state-owned lenders.

United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.

In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of the government's disinvestment plan.

All India Bank Officers Association (AIBOC) General Secretary Sowmya Dutta said the government policies are going to have ill effects on the economy as also it will be reflected in the upcoming polls in some states.

He said nearly all the bank employees have taken part in the two-day strike except for top-level employees.

"All banking services are impacted from cash withdrawals to deposits, business transactions, loan process, cheque clearing, account opening and business transactions," he said.

He said the striking employees have taken out rallies, wherever permitted, across the country, and given a sat-in and if the government does not listen to them they will go for an even bigger, indefinite strike like the one on the lines of ongoing farmers' agitation.

"We are connected with crores of population through our branches, we are educating our customers about the government's ill policies and how it is going to impact them," Dutta said.

Through the Department of Financial Services, the bank unions have also conveyed to the Finance Minister to withdraw her statement from the floor of Parliament about privatisation of the state-owned banks, he added.