Bank strike today: 10 lakh employees protest bank mergers; services to take a hit
1 min read.Updated: 26 Dec 2018, 12:40 PM ISTLivemint
The nation-wide bank strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts, among others
New Delhi: Banking services across India are likely to be affected today, 26 December, as nearly 10 lakh bank employees will be on a day-long strike. The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts, among others. The strike has been called by the United Forum of Bank Unions (UFBU). The union claims to have membership of 10 lakh officers and staffers.
A total of nine bank unions have called given the strike call. These include the All India Bank Employees Association (AIBEA) and the National Organisation of Bank Workers (NOBW).
The bank employees are protesting against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda, besides demanding pay revision.
The unions say post-merger, a large number of branches will be closed and customers will be have to face hardship as already banks are burdened with various government schemes such as Jan Dhan Yojana, Mudra, social security insurance, and Pradhan Mantri housing scheme among others.
In September, the government had announced the merger of state -owned Vijaya Bank and Dena Bank, both under the prompt corrective action (PCA) framework of the RBI, with larger peer Bank of Baroda, creating the third largest lender.