Highlights
- The bank union has called off the bank strike which would affect services from the midnight of September 25th September 2019 to September 28th, 2019
- This strike was held by four large bank unions to protest the merge of 6 public sector banks with 4 larger PSU banks
- A workable solution was proposed by the Bank Union council, and the Finance secretary decided to call off the days of strike considering the solution as “workable”
The Union called off the 2 day Bank strike which would halt all bank-related services from 25th September midnight to 28th morning. The decision was taken when the bank unions met with the financial secretary Rajeev Kumar, in New Delhi on 24th September 2019.
Who initiated the strike?
The strike was initiated as a protest by four large bank Unions- All India Bank Officers Confederation (AIBOC), All India Bank Officer’s Association (AIBOA), Indian National Bank officers Congress (INBOC) and National Organisation of Bank Officers.
Why are they protesting?
The strike was announced in protest to the Government’s new decision to merge public sector banks with larger PSU banks.
The merging of 6 public sector banks with 4 PSU banks was announced by Nirmala Sitharaman. This was introduced in order to reduce competition among the banks and reduce the number of public sector banks to 12.
The merger, according to bank officials, would affect the wage, work hours and many other aspects of working in a bank, which the employees didn’t agree with.
The strike was in accordance with the third round of merging announced by the Government.
Why was the strike called off?
When the Bank union met with the financial secretary today, they discussed the clauses of the merging and came to a “reasonable solution” which probed the council to take and decision and cancel the strike.
