2-day strike in protest of privatization, bank may remain closed for 4 consecutive days

- The United Forum of Bank Unions announced the strike

New delhi date. Wednesday, February 10, 2021

Finance Minister Nirmala Sitharaman has announced the privatization of two state-owned banks in the budget. In protest, employees' unions of government banks (PSBs) have announced a two-day strike on March 15 and 16. Due to this, the bank may be closed for 4 consecutive days in March.

Bank employees have announced a strike on March 15 and 16. Prior to this, March 13 will be a holiday as it is the second Saturday of the month and the bank will be closed as March 14 is a Sunday.

Fear of privatization

The strike was announced by the United Forum of Bank Unions, the central body of 9 bank unions. Privatization has created fear among government bank employees. Any bank, big or small, can be a victim of this privatization.

Resentment of bank unions

Following the announcement of privatization of banks, the bank is now facing resentment from the unions. Bank unions have announced a strike against the privatization of state-owned banks. It has also called for a two-day shutdown in March. The bank will be closed for 4 consecutive days with this two-day strike.

Earlier in the year 2019, the government had privatized IDBI Bank and in the last 4 years, 14 government banks have also been merged.