The Public Sector Banks’ strike on September 26 and 27 announced by four Bank Unions against the recent bank consolidation remains shelved for now after government assured to look into various issues arising out of the merger.
The strike was deferred after the representatives of the four Bank Unions met the Finance Secretary Rajiv Kumar who assured them of addressing their concerns.
The Finance Secretary had assured the representatives of the banks unions that a committee would be formed to examine the implications of mergers and accommodate the concerns of employees.
Following the meeting on Monday the Bank Unions issued a statement that read “the Secretary Finance was positive in formation of a committee comprising all the stakeholders to address the issues arising out of the proposed merger of 10 Public Sector Banks including preserving the identity of all the banks.”
“An appeal was made to us to revisit our call for strike following the discussions, in consideration of the positive and workable solution by the Secretary, Finance, the 48 hour strike from midnight of September 25, 2019 to September 27, 2019 stands deferred.”
The strike was strategically planned keeping in view the fourth Saturday that falls on September 28 followed by Sunday i.e, 29 September. This will mean that banks will not function effectively for four consecutive days which may result in severe cash crunch at ATMs and stall several transactions in the country.
Recently, the merger of 10 Public Sector Banks into four larger banks was announced by the Finance Minister Nirmala Sitharaman. The four bank employees unions that called for the strike were- All India Bank Officers Confederation (AIBOC), All India Bank Officers Association (AIBOA), Indian National Bank Officers Congress (INBOC) and National Bank Officers Organization (NOBO).