About 45,000 bank employees and officers across Telangana are expected to be part of the two-day bank strike on March 15 and 16. The strike has been called by the United Forum of Bank Unions (UFBU) against the Government of India’s proposal to privatise two public sector banks.
It was proposed in the Union Budget 2021-22 that two public-sector banks be privatised and one general insurance company. It also proposed an IPO by the Life Insurance Corporation (LIC). The amendments required for the same to happen are expected to be introduced soon too.
Nine unions representing 10 lakh bank employees and officers across India are part of the UFBU. They are demanding that public-sector banks be made stronger by investing more human resources and capital into them. They want the Centre to provide them the required support and statutory framework to recover their assets.
The All India Bank Employees’ Association (AIBEA), National Organisation of Bank Workers (NOBW), Indian National Bank Employees Federation (INBEF), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Officers’ Congress (INBOC), and National Organisation of Bank Officers (NOBO) are part of UFBU.
With March 11 being Maha Shivratri and March 13 being a second Saturday, dealings and transactions will remain affected for almost four days.