Bank Strike in March 2021: A two-day strike has been called by the United Forum of Bank Unions (UFBU) to protest against the proposed privatization of 2 state-owned banks. The strike is for 2 days, but banks can remain closed for 4 consecutive days.
About two million bank employees and officials can participate in the two-day strike of bank organizations. In this strike with AIBEA, All India Bank Officers Confederation (AIBOC), All India Bank Officers Association (AIBOA), National Confederation of Bank Employees (NCBE) and Bank Employees Confederation of India (BEFI), National Organization of Bank Workers (NOBW) And organizations like National Organization of Bank Officers (NOBO), National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC). Now a question arises here that how much will the country suffer due to the bank strike? Let’s know what the experts say…
Bank employees on 2-day strike
A two-day strike has been called by the United Forum of Bank Unions (UFBU) to protest against the proposed privatization of 2 state-owned banks. The strike is for 2 days, but banks can remain closed for 4 consecutive days. This is because on 13 March it is the second Saturday of the month and then on 14 March it is Sunday.
After all, why bank employees are on strike
According to Money 9 report, the reason for the current strike is due to the privatization of banks. Bank employees’ organizations and other trade unions are criticizing this decision of the government.
Now on 15 and 16 March, a strike has been announced to protest against it. Let us tell you that Finance Minister Nirmala Sitharaman had said in her budget speech on 1 February 2021 that two public sector banks and one general insurance company would be privatized. Since then, bank organizations and employees have been opposing it.
Joydeb Dasgupta, Vice President of Bank Employees Federation of India told Money 9 in a special conversation that we are going on strike against the government’s decision to privatize two banks.
This strike will involve 10 lakh employees and more than 10,000 branches across the country. He says that the Grameen Bank has also decided to join this strike.
Along with the common people, small and big businessmen will also face problems.
The country is bound to suffer a major financial injury due to the continuous closure of banks for four days. Due to this, the work of the common man along with the government will also get stuck.
Confederation of All India Traders (CAIT) secretary general Pravin Khandelwal says that the four-day strike of banks will have a negative impact on business activities in the country.
Everyday traders, service providers, corporate houses, industries, small businesses and other sectors use banking systems. This will adversely affect their banking operations.
Transactions through NEFT will get stuck due to banks being closed. Due to this, there is a possibility of big loss. Many important services including check clearance, ATM functioning will be stuck due to this strike.
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How much will be lost due to the strike in banks?
Devendra Agarwal, president of the FMCG Distributors and Traders Association and All India Trade Board of Delhi, told Money 9 that a single day’s leave has a bad effect on the business. A four-day closure of the bank will have a very bad effect on the business. All clearance will be stopped.
Devendra Agarwal says that due to this strike, daily loss of Rs 50,000 crore to Rs 70,000 crore can be done every day.