The State Bank of India (SBI) and other banks have informed their customers about the banking strike and the likely impact on services due to Bharat Bandh.
Banking services were partially impacted on Monday due to Bharat Bandh and bank strike.
According to a PTI report, some workers did not show up for work today in support of the two-day nationwide general strike called by the central trade unions. The bank strike is expected to continue tomorrow.
State Bank during Bharat Bandh
Transactions in many public sector banks have been affected as staff failed to show up for work. There could also be delays in clearing checks, and the functioning of the Treasury could also be affected by the strike. The impact of the strike is clear in eastern India, where many state-owned bank branches are closed, said Indian Bank Employees Association (AIBEA) Secretary General C.H. Venkatachalam.
PRIVATE BANKS during Bharat Bandh
According to the PTI report, however, there has been little impact on the operation of private sector banks such as HDFC Bank, ICICI Bank, Axis Bank and others.
WHY THE BANKS STRIKE, BHARAT BANDH?
Banking unions are protesting against the government’s decision to privatize two public sector banks, as announced in the 2021-22 budget. They are also asking for an increase in the interest rate on deposits and a reduction in service charges.
Alongside AIBEA, the Bank Employees Federation of India (BEFI) and the Indian Association of Bank Officers (AIBOA) are also joining the call for a two-day strike by the Joint Forum of Central Unions and various independent branch unions to protest against the government’s anti-popular action. economic policies and anti-working class labor policies, according to the PTI report.
All India Trade Union Congress (AITUC), All India Trade Union Center (CITU) and Indian National Trade Union Congress (INTUC) call for the repeal of proposed labor law amendments and all forms of privatization among others .
Their demands also include increased wage allocation under the Mahatma Gandhi Rural Employment Guarantee Act (MNREGA) and regularization of contract workers.
STATE BANK OF INDIA
Most banks, including the State Bank of India (SBI), had informed their customers in advance of the planned strike and its likely impact on services. “We have been informed by the Indian Banks’ Association (lBA) that notice has been served by the All India Bank Employees’ Association (AIBEA), the Bank Employees Federation of lndia (BEFI) and the All lndia Bank Officers’ Association (AIBOA) on their decision to stage a nationwide bank strike on March 28-29, 2022,” SBI said in an ESB filing.
“We note that while the bank has taken the necessary precautions to ensure normal operations in its branches and offices on the days of the strike, but it is likely that the work in our bank will be affected to some extent by the strike,” he said. SBI said in a statement.