Banks to go for two-day nationwide strike from Dec 16

The United Forum of Bank Unions (UFBU) has called a two-day strike for December 16-17 to protest the government’s proposed Bill for the privatisation of two public sector banks. The

The United Forum of Bank Unions (UFBU) has called a two-day strike for December 16-17 to protest the government’s proposed Bill for the privatisation of two public sector banks.

The Bill is slated to be introduced in the ongoing winter session of the Parliament.

Sanjay Das, general secretary of the All India Bank Officers Confederation (AIBOC), said that in addition to the two-day strike a series of other agitational programmes would be staged if the government does not give up the idea of bank privatisation.

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

Once the bill is passed it will make the necessary amendments in Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1970 and 1980 as well as incidental amendments required to be made in the Banking Regulation Act, 1949.

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