Braking News – All Bank Closed

Bank Strike Alert: Wednesday could be the last working day of the week at most banks due to the strike call.

Around 4 lakh bank employees sitting on an across the country strike on September 26 and 27, most banks are probably going to be open just for three days in the current week. To protest against the mega merger of public sector banks, at least four bank associations have taken steps to go on a two-day strike just before the weekend.

The weekend, as well, would be a holiday as banks are closed on second and fourth Saturdays reliably. Sunday is also a weekly holiday. This means that most commercial banks, particularly the state-run ones, would be shut from September 26 to 29 with 25th being the last working day of the week.

The bankers will also demand pending compensation amendment, reduction in administration charges levied by banks on customers and ensuring adequate staffing. On being asked about the inconvenience caused to the customers, the authority declared that the association is protesting for the interest of the general public.

Here Are The Reasons Why The Strike ?

  • The four associations that have required the bank strike are the AIBOC, the All India Bank Officer’s Association (AIBOA), the Indian National Bank Officer’s Congress (INBOC) and the National Organization of Bank Officers (NOBO).
  • “We, the authorities’ affiliations, strongly oppose the proposed amalgamation of public sector banks, which we predict as a forerunner towards privatization,” included AIBOC.
  • Among other demands, the unions are additionally looking for immediate introduction of five-day week in full and decrease of money exchange hours and managed working hours.
  • The officers’ organizations have also demanded ending of undue interference in the existing procedure of vigilance cases by outside agencies, settlement of issues relating to retirees, sufficient enrollment, rejecting of NPS (National Pension System), reduction of service charges for consumers and harassing of officers under specious plea of non-performance.
  • The AIBOC said that the nationalized banks will further observe uncertain strike this week to press for their demands.
  • The government announced four major mergers of PSBs, a move planned for making state-owned lenders the global-sized banks.
  • As per the union exercise, United Bank of India and Oriental Bank of Commerce will be converged with Punjab National Bank, making the proposed substance the second biggest open segment bank. Syndicate Bank will be converged with Canara Bank. Allahabad Bank will be converged with Indian Bank and Andhra Bank will be amalgamated with Corporation Bank and Union Bank of India.
  • In 2018, Vijaya Bank and Dena Bank were united with Bank of Baroda.
  • In 2017, six partner banks were combined alongside SBI and the Bharatiya Mahila Bank with the nation’s biggest loan specialist.

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