On Friday around 8 lakh public sector bank staffs are expected to a join a strike called by the United Forum of Banks Unions next to the merger of the State Bank of India and its associated banks. Sources conveyed that on Tuesday the UFBU, an umbrella organisation, held talks with the Indian Banks Association, but their demands were not met.
SBI released a declaration conveying, “The All India State Bank Officers’ Federation and the All India State Bank of India Staff Federation are members of UFBU. Thus, it is possible that the bank will also be impacted to some extent by the said strike calls.” The strike is predictable to influence everyday services such as deposits, withdrawals and cheque clearance. Sources also has further conveyed that, the unions have been protesting alongside Foreign Direct Investment in and the privatisation of the sector, and demanding that private capital be augmented in public sector banks.