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Bank Strike Called for Two Days, List of Services that Will Not be Impacted

Bank strike is being observed across the country by around a million employees to protest against the privatisation of banks in India

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DQINDIA Online
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Bank Strike

Bank strike will be observed in India on 15 and 16 of March 2021 by as many as a million employees from the banking sector to protest against the privatisation of banks in the country. The protest has been called by the United Forum of Bank Union (UFBU), which is representing nine other bank unions. The strike is expected to hit key services for consumers.

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The bank strike has been called to oppose Finance Minister Nirmala Sitharaman’s announcement in the Union Budget February 2021 with regard to privatisation of two public sector banks (PSBs), using which the Government aims to generate Rs 1.75 lakh crore. “If Narendra Modi will not stop privatization of public sector banks, we will be forced for Indefinite Strike,” UFBU has just tweeted.

The nine bank unions that the UFBA is an umbrella body of are All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA), National Confederation of Bank Employees (NCBE), All India Bank Officers' Confederation (AIBOC), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers' Congress (INBOC) and National Organisation of Bank Officers (NOBO) and the National Organisation of Bank Workers (NOBW).

Bank Strike Will Impact these Services

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Although banks have communicated that they would try to keep services normal for customers, the following services are likely to be hit:

  • Depositing of money at banks.
  • Withdrawal of money from banks.
  • Disbursal of loans.
  • Cheque clearances.

Bank Strike Will Not Impact These Services

Consumers will most likely not be inconvenienced with regard to these services due to the two-day bank strike:

  • National Electronic Fund Transfer (NEFT).
  • Real Time Gross Settlement (RTGS).
  • Immediate Payment Service (IMPS).
  • Unified Payments Interface (UPI), and other OTP-based digital payments services.
  • ATMs are expected to function normally as well.
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