Banks will be closed tomorrow and the next day
Banks will be closed tomorrow and the next day

Bank News: The two days following, December 16 and 17, will be closed for all Public Sector Banks in the country as their employees will be on strike for two days. SBI’s employees’ unions remain adamant on their point even after appeals to the employees not to strike on behalf of other banks. The reason behind this strike is the privatization of banks.

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By using Twitter, the State Bank of India (SBI) communicated directly with its employees. The bank stated that due to this strike of employees, and due to the Corona epidemic, the stakeholders may face huge problems. SBI sent invitations to the bank unions as well. A letter was also sent by the Central Bank of India to its employees and unions, asking them to work for the bank’s improvement. The Punjab National Bank (PNB) also requested its employees to refrain from going on strike via Twitter.

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Struggles to stop the continuous strike

Various media reports suggest that bank managers are constantly in touch with the bank associations and bank unions. A delay in the strike is constantly discussed. The Union Budget 2021 included a privatization plan for two major public sector banks, announced Finance Minister Nirmala Sitharaman. However, the Finance Minister did not yet decide on whether or not both banks would be privatized during a Cabinet Committee on Privatization meeting in the Lok Sabha on Monday.

Financial Minister’s latest statement

Replying to a Lok Sabha question, the government has stated that two public sector banks (PSBs) will be privatized during the year as part of the budget for 2021-22. This matter was delegated to the Cabinet Committee that is responsible for considering disinvestment issues, including the choice of a bank. The Cabinet Committee for Privatization of Public Sector Banks has not yet decided on this issue.

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