All about Public Sector Banks’ strike

All about Public Sector Banks’ strike

Team Ambitiousbaba and AB are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “All about Public Sector Banks’ strike

Around nine lakh banking staff of public sector banks is on a two-day nation-wide strike starting from today to protest against the government’s move to privatise two public sector lenders.

The two-day strike on December 16 and 17 is addressed by the United Forum of Bank Unions (UFBU). In Only Maharashtra 60,000 banking staff went on strike.

Things to know about their step:

Participants in protesting:

The United Forum of Bank Unions (UFBU) which is an umbrella body of all unions such as AIBOC, All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) and many more, has called the two-day strike on (December 16 and 17).

Why PSBs on strike?

The union demands to the government not to hold over the Bank Privatisation Bill (Banking Laws Amendment Bill, 2021) during this (winter) session of the Parliament. The government had in Budget 2021-22 announced its purpose to draw privatisation of two public sector banks (PSBs) in this financial year.

In a meeting of the Additional Chief Labour Commissioner on December 15 failed, so unions are going forward with their planned strike, All India Bank Officers’ Confederation (AIBOC) General Secretary Soumya Datta said.

Impact of strike:

  • Most public sector banks will remain shut today and tomorrow. Since the following two days are weekends, these PSBs will not doing any operations for transactions for four days continuously.
  • Including State Bank of India (SBI) most of the public sector banks have already alerted their customers about the strike’s possible impact on banking operations like cheque clearance and fund transfer.
  • It may affect many business and industries adversely to do their transactions and daily cash management.
  • It also adversely impact on small vendors and small businesses for waiting their small amount of credit and debit transactions and for living daily life also.

    Background:

  • The employees and trade unions had initiated a protest campaign ‘Bank Bachao, Desh Bachao’ at Jantar Mantar maidan in New Delhi on December 1.
  • Canara Bank, PNB, and Punjab and Sind Bank had pressed earlier their employee unions to think again on their plan.
  • The ruling DMK in Tamil Nadu has drew out support to the two-day nationwide strike called. The ruling party hoped for the strike success and announced his party’s “total support” to the protest.

Question & Answer:

Q1. Why Public Sector Banks on two day strike?
Ans. To oppose the government’s decision on privatisation of two banks

Q2. How many public sector banks are in the country?
Ans. 12

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