15.1 C
Kuwait City
February 28, 2020
Gulflance
Home » Bank Strike, Bank Schedule, Bank Holidays In October 2019
Business NDTV

Bank Strike, Bank Schedule, Bank Holidays In October 2019

Bank strike: The unions said that the strike call is to oppose bank mergers.

Banking operations could be hit on October 22 due to the strike called by the All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI), Oriental Bank of Commerce said in a regulatory filing on Saturday. Other banks like — Bank of Maharashtra, Syndicate Bank and Bank of Baroda — have also come out with similar warnings. However, the State Bank of India (SBI) said that the impact of the proposed strike would be minimum as most of its employees are not members of the participating unions.

“AIBEA and BEFI have called for an all India strike of its members on October 22, in support of their demands. In the event the strike materializes, the normal functioning of the bank may get affected,” the Oriental Bank of Commerce said in the regulatory filing.

In a regulatory filing earlier this week, Bank of Baroda said that the functioning of its branches/offices may be “affected/paralyzed” due to the proposed strike. The state-run lender, however, assured that it is taking all necessary steps for smooth functioning in bank branches on the day of strike.

The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI) have proposed an all-India strike on October 22 to protest against the announced consolidation of 10 state-run lenders into four.

“We can easily understand that mergers are a prelude to privatisation of banks and hence we need to vehemently oppose such moves,” BEFI said in a statement.

AIBEA and BEFI said they are opposing outsourcing of regular and perennial nature of banking jobs, and privatisation of banking industry while demanding adequate recruitment of clerical and sub-staff and stringent steps for recovery of mounting bad loans.

In August, the government announced mega merger plans for state-run banks in a bid to strengthen the country’s financial sector, a move which it said would bring down the number of public sector banks  (PSBs) in the system to 12 from 27.

Last month, the officers’ unions had called a two-day all India bank strike on September 26 and 27 that was later withdrawn after the government’s intervention.

Follow NDTV for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.
Subscribe to our YouTube channel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

Source link
Click here to read more news from @ndtv

Related posts

EgyptAir In-Flight Service Company presents services for Korean flights

gulflance

Qatar Petroleum joins EITI as a supporting company The Peninsula

Stay Safe This Diwali; A Comprehensive Guide To Dealing With Burn Injuries

NDTV

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please spend a minute

Gulflance Poll

Which is worst social media?
Vote Now
close-link
Sign-up for exclusive content. Be up to date with Gulflance
Subscribe
Subscribe
close-image