Nationwide strike impacts banking services of PSU banks

New Delhi, Mar 15 (PTI): Banking services such as cash withdrawals, deposits, cheque clearing and business transactions were impacted across the country on Monday, the day one of the PSU bank union’s strike, against the proposed privatisation of two more state-owned lenders. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the banks will participate in the strike. In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of the government’s disinvestment plan. All India Bank Officers Association (AIBOC) General Secretary Sowmya Dutta said the government policies are going to have ill effects on the economy as also it will be reflected in the upcoming polls in some states. He said nearly all the bank employees have taken part in the two-day strike except for top-level employees.
“All banking services are impacted from cash withdrawals to deposits, business transactions, loan process, cheque clearing, account opening and business transactions,” he said.

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