Two day banking strike in India

Two day banking strike in India

Team Ambitiousbaba 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 “Two day banking strike in India”

Bank employees have not reported for duty in support of the two-day nationwide general strike called by central trade unions. Banking services are being partially affected on Monday.

As per the All India Bank Employees’ Association (AIBEA) General Secretary C H Venkatachalam, the affect of the strike is salient in eastern India as many branches of public sector banks there are closed.

Effects on Banking Services:
Besides, there might be a postponement in cheque clearances and government treasury operation might also be affected by the strike.

There is hardly any impact on the functioning of new generation private sector banks.

Regions on strike:

The effect of the strike is salient in eastern India as many branches of public sector banks there are closed.

In the other regions of the country, bank branches are open on presence of officers but services pertaining to banking transactions and processes are being adversely affected due to many employees participating in the strike.

Reason behind strike:

Bank unions are sitting on strike to show their denial stance against the government’s decision to privatise two public sector banks as announced in Budget 2021-22. They are also calling for an increase in interest rate on deposits and decreases service charges.

With the All India Bank Employees’ Association (AIBEA), Bank Employees Federation of India (BEFI) and All India Bank Officers’ Association (AIBOA) are also participating in the two-day strike which has been given by the joint forum of central trade unions and various sectoral independent trade unions to dissent against government’s anti-people economic policies and anti-worker labour policies.

As government of India has increased allocation of wages under MNREGA (Mahatma Gandhi Rural Employment Guarantee Act), contract workers are protesting on their demands.

Most of the banks, including State Bank of India (SBI), had providing information on their customers about the two day strikes which likely to be impacted on the services in advance.

Question & Answer:

Q1. How many days are strikes called by banking unions?

Ans. Two

Q2. What is the main reason behind strike in public sector banks?

Ans. To show their agitation against the government’s decision to privatise two public sector banks as announced in Budget 2021-22

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