Bank operations to hit on Oct 22, Unions call strike against mergers

If you are planning to visit the bank to complete your branch-related formalities, kindly plan it prior to October 22 or go for online banking as two trade unions of bank employees are likely to call for all-India strike on the said date.

Banks strike

The proposed strike is called against the merger of 10 Public Sector Banks (PSBs) into four.

“We can easily understand that mergers are a prelude to privatisation of banks and hence we need to vehemently oppose such moves,” the Bank Employees Federation of India (BEFI) said in a statement.

The centre had announced the mega amalgamation of PSBs in a bid to level-up the country’s economic stability. Announced in August, the move would dissolve the number of public sector banks in the system to 12 from 27.

All India Bank Employees Association (AlBEA) along with the Bank Employees Federation of India (BEFI) have 1,25,000 employees as their members, and cent percent participation of the members is likely to happen on the day of the strike.

Moreover, the strike has also received support from the All India Trade Union Congress (AITUC), which is India’s one of the biggest trade unions with 34 lakh members.

Banking experts predict that over 2 lakh bank employees will take part in this strike.

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