Two-day nationwide bank strike begins

A two-day nationwide bank strike called by United Forum of Bank Unions (UFBU) against privatisation of government banks began on Thursday, said C.H.Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA).
He said the strike is against central government’s move to privatise public sector banks (PSB) and to introduce the Banking Laws (Amendment) Bill, 2021 in the current session of Parliament.

The passage of the Bill will enable the Government to reduce their equity capital in the PSBs to less than 51 per cent and allow private hands to take over them.

The government had earlier said it would privatise two of its banks.

According to him, about 10 lakh bankers in public and private sector banks are participating in the strike.

Owing to the stir, operations at the cheque clearing grids in Mumbai, Chennai and Delhi will be impacted and several thousands of crore worth of cheques would not be cleared.

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