The United Forum of Bank Union (UFBU), a union of nine different banks has given a call for a nationwide bank strike on March 15 and 16, against the privitisation of public sector banks and against the robust banking reforms.
It is expected that over ten lakh bank officers and employees will be taking part in the bank strike. Services like deposits and withdrawals, loan approvals, cheque clearance is expected to be affected due to the strike. Although, ATMs are expected to continue to work.
The strike comes as a result of the announcenment made by Finance Minister Nirmala Sitharaman during the budget session about the privitisation of two public sector banks to generate rs 1.75 lakh crores.
In addition to the bank strike, the four General insurance companies will also be striking on the 17th of March against the privitisation of public companies.