Next week’s bank strike will last two days, and SBI services may be disrupted

The State Bank of India’s (SBI) operations are likely to be disrupted on the 16th and 17th of December due to a two-day nationwide bank strike. In response to the government’s decision to privatize public banks, the United Forum of Bank Unions (UFBU) has declared a strike.

On December 10th, SBI stated in a stock exchange report. “The Indian Banks’ Association (lBA) has informed us that the United Forum of Bank Unions (UFBU) has served a Notice of Strike, informing that the members of UFBU’s constituent Unions, namely AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, and INBOC, propose to go on a nationwide Bank Strike on December 6th and 7th, 2021 in support of their demands.” We advise that, while the Bank has made the necessary arrangements to maintain normal operations in its branches and offices on strike days, work in our Bank is likely to be disrupted.

From December 16 to 18, there will be a two-day bank strike.

The United Forum of Bank Unions (UFBU) has called a two-day walkout beginning December 16 to protest the Centre’s plan to privatize public sector banks. The United Federation of Bank Unions (UFBU) is a bank union federation. According to Sanjay Das, general secretary of the All India Bank Officers Confederation (AIBOC), the plan to privatize PSBs will harm priority sectors of the economy as well as credit flow to self-help groups and the rural economy.

According to him, public sector banks hold 70% of total deposits in the country, and handing them over to private capital will jeopardize the money deposited with these banks, according to PTI.

In her 2021 budget speech, Union Finance Minister Nirmala Sitharaman stated that two public sector banks will be privatized during the current fiscal year.

According to him, public sector banks hold 70% of total deposits in the country, and handing them over to private capital will jeopardise the money deposited with these banks, according to PTI.

In her 2021 budget speech, Union Finance Minister Nirmala Sitharaman stated that two public sector banks will be privatised during the current fiscal year.

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