Banking services across India have been affected as employees of PSU banks have gone on strike on March 15 and 16.
Strike Against PSB Privatisation
The strike is to protest the privatisation of two PSU banks and retrograde banking reforms. The government hopes to generate Rs 1.75 lakh crore by privatising two PSBs and one general insurance company.
Nine Unions Unite
The strike has been called by United Forum of Bank Union (UFBU), an umbrella body of nine bank unions. Over 10 lakh bank employees are striking.
Four-Day Break In Bank Operations
As banks were closed on March 13 (second Saturday) and March 14 (Sunday), the strike has led to a four-day halt in operations.
Services such as deposits and withdrawal at branches, cheque clearance, loan approvals among others would be affected. However, ATMs will likely function.