Bank strike affects operations across the country, checks worth 16.5 thousand crores stuck
Chandigarh, India. On Monday, the first day of the employees’ strike to protest the privatization of the two banks, a mixed effect was seen across the country. More than 10 lakh employees-officers participated in the strike. Indian Bank Employees Organization General Secretary CH Venkatachalam said that the strike could not clear about 2 crore checks across the country. A total amount of 16,500 crores is trapped in it. Apart from this, cash withdrawals, deposits, and business transactions have also been affected. Bank employees will also be on strike on Tuesday.
Talking about the strike over 10 lakh bank employees and officers have participated in the strike.
All the nine important bank unions “All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Confederation (AIBOC), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) and the National Organisation of Bank Workers (NOBW)” have taken part in the strike called by the UFBU, an umbrella organisation of bank unions.
Why this bank strike?
Central Government is enforcing the privatization of many banks and the four banks on the shortlist are the Bank of Maharashtra, the Bank of India, the Indian Overseas Bank, and the Central Bank of India. Bank of India has a huge workforce that is of about 50,000 employees, while the Central Bank of India has 33,000 staff, and Indian Overseas Bank is having 26,000 banking professionals. Bank of Maharashtra has about 13,000 employees working. The employees demand to think for them. Officers and other employees demand to reverse the orders.