InvestorQ : Why are public banks on strike today?
divya Sing made post

Why are public banks on strike today?

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2 years ago

Public banks are on strike today to protect against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda. The nation-wide strike call was given by bank unions and is the second bank strike in less than a week with the first one being on December 21.

Bank unions are also demanding pay revision from the government.

However, private banks are functioning as usual, so if you have a private bank account, its suggested that you head to the private bank to take care of your banking requirements.

The organiser of the strike is United Forum of Bank Unions (UFBU), which is an umbrella organisation of nine bank unions and claims to have a total membership of 10 lakh officers and other staff members. A few of these unions are:

- All India Bank Officers Confederation (AIBOC)

- All India Bank Employees’ Association (AIBEA)

- National Confederation of Bank Employees (NCBE)

- National Organisation of Bank Workers (NOBW)