The United Forum of Bank Unions UFBU has called a two-strike in the country of banks. But this strike seems to be a four-day strike due to the second Saturday and Sunday in between which lies on March 13 and March 14. The strike will start from March 15 to March 16. The public sector banks are protesting against the propaganda about the two state-owned lenders. As those who are thinking to have transactions these days, they must focus on the Bank strike. As UFBU is the apex body for the banks.
Reason for the Bank strike
Bank employees are against the response of government and Finance Minister Nirmala Sitharaman’s Union budget 2021-2022. As in the Union budget, Nirmala Sitharaman has announced the privatization of two public sector banks. Not only the government has also privatized one general insurance company in the FY 2021-2022. The government did this as a part of the government’s disinvestment drive. This drive will generate Rs 1.75 lakh crore. As we have already seen that IDBI is already privatized. The government sold its stake to the Life Insurance Corporation of India. This was done in 2019. It was observed that the government is doing so for the last four years. According to the sources, it has emerged 14 public sector banks in these four years. The employees and the associations are not happy with their decision that’s why they are conducting a strike which will affect the functioning of the system.
Rally in Uttarakhand
In the context of this strike, the UFBU will conduct a rally against the propaganda. UFBU Convener has informed that the employees are not happy with the decision and they decided on a strike. And if the government will not take any action they will do protest against this privatization.
Who are the members of UFBU?
There are various associations included in UFBU. These are All India Bank Employees Association, All India Bank’s Officer’s Confederation, National Confederation of Bank Employees, All India Bank Officer’s Association, and Bank Employees Confederation of India. Not only this it also includes INBEF, INBOC, NOBW, NOBO. As in the context of this various banks such as SBI, and Canara Bank has informed about the functioning of the banks due to strike.