Bank operations may be hit by unions’ strike on Thursday

By: |
November 25, 2020 9:31 PM

"Lok Sabha in its recently held session has passed three new labour enactments by dismantling existing 27 enactments in the name of 'Ease of Business', which are purely in the interest of corporates.

In October, non-food credit growth decelerated to 5.6 per cent compared to a growth of 8.3 per cent in the same month of the previous year.In October, non-food credit growth decelerated to 5.6 per cent compared to a growth of 8.3 per cent in the same month of the previous year.

Banking operations across the country may be impacted on Thursday as some bank unions would be joining the one-day nationwide strike called by central trade unions. Ten central trade unions, except Bharatiya Mazdoor Sangh, will observe the nationwide general strike to protest against various policies of the central government.

Many lenders, including IDBI Bank and Bank of Maharashtra, in regulatory filings on Wednesday said their normal working could be affected at the branches and offices. The All India Bank Employees’ Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI) are participating in the strike.

“Lok Sabha in its recently held session has passed three new labour enactments by dismantling existing 27 enactments in the name of ‘Ease of Business’, which are purely in the interest of corporates.

“In the process, 75 per cent of workers are being pushed out of the orbits of labour laws since they will have no legal protection under the new enactment,” the AIBEA said in a release.

The association represents the majority of the banks, except State Bank of India (SBI) and Indian Overseas Bank.
It has four lakh bank employees from various public and old private sectors and a few foreign banks as its members.

“If strike materialises, the normal functioning of the bank branches and offices is likely to be affected. The bank is taking all necessary steps to minimise the impact of strike so as to provide the normal banking services to its customers,” the Bank of Maharashtra said in a filing.

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