India

Banking services have an impact as 900,000 employees go on two-day strike

Staffers take out marches in protest against privatisation of public sector banks; a few customer service centres kept functional

Banking, especially for branches across the country, have been affected following the beginning of a TwoDay strike by about 900,000 employees to protest the privatization of public sector banks.

The unions have been protesting since the Center, in its 202122 budget, announced its intention to privatize two public sector credit institutions. Declaring that the strike is not in the best interests of customers and investors, SBI, Canara Bank and UCO Bank, among others, have urged their employees to reconsider their decision to strike.

Banks have already warned customers of the possible impact of the nationwide strike on banking operations such as settlement of checks and transfer of funds. They emphasized the use of digital banking channels for transactions to avoid difficulties. The unions argued that privatization will affect the implementation of all government programs aimed at the welfare of socially and economically weaker sections of society.

Bank workers, from street sweepers to Level 5 executives, will observe the two-day nationwide strike and stage protests.

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