Bank alert Customers The working of the State Bank of India (SBI) is likely to be affected on 16 and 17 December due to a 2-day nationwide bank strike. The United Forum of Bank Unions (UFBU) has called a strike to protest against the government’s move to privatise public sector banks.
In an exchange filing on 10 December, SBI said. “We have been advised by the Indian Banks’ Association (lBA) that United Forum of Bank Unions (UFBU) has served a Notice of Strike, informing that the members of the constituent Unions of UFBU viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC propose to go on a nationwide Bank Strike on l6th & l7th December, 2021 in support of their demands.
We advise that while the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the days of Strike, it is likely that work in our Bank may be impacted by the Strike. The United Forum of Bank Unions (UFBU) has called a two-day strike from December 16 to protest against the Centre’s plan to privatise public sector banks.
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UFBU is an umbrella organisation of bank unions. Sanjay Das, general secretary of All India Bank Officers Confederation (AIBOC) said that this move to privatise PSBs will hurt the priority sectors of the economy and also credit flow to self-help groups and to the rural economy.
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According to him, 70 per cent of the country’s total deposits are with the public sector banks and handing them over to private capital will put the common man’s money deposited with these banks into jeopardy. In the budget speech of 2021, Union Finance Minister Nirmala Sitharaman had said that two public sector banks will be privatised during the current fiscal.
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