All the banks across India will be on a strike today and tomorrow as the United Forum of Bank Unions (UFBU) has called for a nationwide strike. This will mostly affect the services. The strike is against the proposed privatisation of two state-owned lenders.

The UFBU had decided for the strike to be held on March 15 and 16. Around 10 lakh bank workers are expected to participate in this strike. During the presenting of the Annual Budget, Finance Minister Nirmala Sitharaman announced that two of the public sector banks (PSBs) will be privatized under the government’s disinvestment plan. IDBI Bank was already privatized. Many of the public sector banks also merged.

While most of the banks are on a strike, ICICI Bank, HDFC Bank and Axis Bank are working. The strike will affect services like cheque clearance; and government transactions as confirmed by the All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam. Along with this, the stock market will also be affected.

State Bank of India (SBI) is making sure that the basic functions continue. The normal services shall not be affected.

The Members of UFBU, All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA) and Bank Employees Confederation of India (BEFI) are on strike.

Along with them, the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO) will also be joining.