Wednesday, August 10, 2022

Banking to be affected due to March 15 & 16 bank strike, says SBI

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  • While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted by the strike, said SBI

  • Although the strike call has been issued for March 15 and 16, banks are likely to remain shut on March 13 and 14 as well

New Delhi: State Bank of India (SBI) informed the bourses on Tuesday that work will be impacted due to the two-day bank strike called by the United Forum of Bank Unions (UFBU) on March 15 and 16. “…we have been advised by Indian Banks Association (IBA) that United Forum of Bank Unions (UFBU)… has given a call for all-lndia strike by Bank Employees on 15th & 16th March, 2021,” SBI said in a regulatory filing to the stock exchanges. 

“While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted by the strike,” said SBI. It also added that the loss cannot be quantified right now. 

UFBU to go on strike on March 15 & 16 against bank privatisation

The UFBU, an umbrella organisation for nine major unions representing employees in the banking sector, has issued a call for a two-day strike from March 15 against the proposed privatisation of two state-run public sector banks (PSBs). At a meeting of UFBU on February 9, it was decided that the forum will oppose the government’s decision to privatise banks, All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam had said at the time.

How will the strike disrupt banking operations?

The strike call means that those who pay advance tax through branches may have to do so two days earlier. Although the strike call has been issued for March 15 and 16, banks are likely to remain shut on March 13 and 14 as well since March 13 is the second Saturday of the month and March 14 is a Sunday. 

ALSO READ: Unions call for 2-day strike from March 15 against proposed privatisation of PSBs

UFBU comprises of nine major unions — All India Bank Employees' Association (AIBEA), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers' Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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