Srinagar, March 15: As the countrywide strike of public sector banks began today, most banks in Jammu & Kashmir, including Jammu & Kashmir Bank, and also other private sector banks are functioning as normal.
Sources told Ziraat Times that J&K Bank employee unions have not joined the strike. Other private sector banks like HDFC Bank, ICICI Bank, etc are also working as normal.
There are reports of work suspension in some of the public sector banks both in Jammu and Kashmir regions, that have heeded the call by their countrywide unions to join a protest strike today and tomorrow.
Banking services are likely to be impacted today on March 15 and 16 as the United Forum of Bank Unions (UFBU) has given a call for a two-day nationwide strike. The strike has been called to protest against the Centre’s proposal to privatise two public sector banks.
According to UFBU and All India Bank Employees Association (AIBEA), 10 lakh bank employees will participate in the strike. Banking services are likely to be hit at several public sector banks (PSBs) like State Bank of India (SBI), Canara Bank and Bank of Maharashtra (BoM).
The UFBU comprises nine main bank unions, which will participate in the strike. The said bank unions are-All India Bank Employees’ Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association (AIBOA), National Confederation of Bank Employees (NCBE), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers’ Congress (INBOC), Bank Employees Federation of India (BEFI), National Organisation of Bank Officers (NOBO) and National Organisation of Bank Workers (NOBW).
Bank unions are protesting the Centre’s privatisation policy after Union Finance Minister Nirmala Sitharaman, in her Budget 2021 speech, announced the privatisation of two public sector banks as part of the Centre’s divestment plan.
“Other than IDBI Bank, we propose to take up privatisation of two public sector banks and one general insurance company in the year 2021-22. This would require legislative amendments and I propose to introduce the amendments in this session itself,” FM Sitharaman said during her budget speech.
The Centre has already privatised IDBI Bank by selling its majority stake in the bank to LIC in 2019 and has merged 14 public sector banks (PSBs) in the last four years.