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Banking industry

Public Sector Bank Employees Launch Two-Day Strike in Meghalaya

Strategic Insights

— 1 min read

Employees of public sector banks in Meghalaya have launched a two-day strike, beginning on Thursday, to protest the Central Government's move to privatize two public sector banks through the Banking Laws Amendments Bill, 2021. The strike has affected normal banking functions in the state and elsewhere in the country, with private sector banks operating as usual. The United Forum of Bank Unions (UFBU) has called for the strike, citing the central government's decision to table the Banking Law Amendments Bill, 2021, which threatens the public sector banking model.

Key Takeaways:

  • The two-day strike by public sector bank employees in Meghalaya was launched in protest against the Central Government's move to privatize two public sector banks through the Banking Laws Amendments Bill, 2021.
  • The strike has affected normal banking functions in the state and elsewhere in the country, with private sector banks continuing to operate as usual.
  • The United Forum of Bank Unions (UFBU) has called for the strike, representing nine bank unions, including AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBO, NOBW, and NOBO.
  • Nationalized banks have played a major role in the development of agriculture, small trade, small business, and the uplift of weaker sections of society, according to Joint Convener of UFBU, Manoj Chakraborty.
  • The strike is part of a larger protest against the central government's decision to table the Banking Law Amendments Bill, 2021, which threatens the public sector banking model.
  • The public sector banks in Meghalaya have been functioning normally until the strike began on Thursday.

Statistics:

  • The strike is a two-day protest, with the first day beginning on Thursday.
  • The United Forum of Bank Unions (UFBU) represents nine bank unions, including AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBO, NOBW, and NOBO.
  • The public sector banks in Meghalaya affected by the strike are primarily the State Bank of India (SBI) branches.

Sources:

  • United News of India

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