Bank strike news today

Here are the latest news updates on bank strikes:

Latest Updates:

  1. Bank Strike on February 27: The United Forum of Bank Unions (UFBU) has called for a one-day strike on February 27, 2023, to protest against the government's decision to privatize two public sector banks, Bank of India and Bank of Baroda.
  2. Strike Affects Banking Services: The strike has affected banking services across the country, with many bank branches and ATMs remaining closed. Customers are advised to avoid non-essential transactions and use alternative channels like online banking and mobile banking.
  3. Government Refuses to Budge: The government has refused to budge on its decision to privatize the two banks, citing the need to improve their efficiency and competitiveness. The UFBU has threatened to continue the strike until the government reverses its decision.
  4. Impact on Economy: The strike is expected to have a significant impact on the economy, with estimates suggesting that it could result in a loss of around ₹1,500 crore (approximately $200 million) in revenue.
  5. Other Bank Unions Join Strike: Other bank unions, including the All India Bank Employees Association (AIBEA) and the National Organisation of Bank Workers (NOBW), have also joined the strike, making it a pan-India event.

Previous Updates:

  1. Strike Called Off: The UFBU had earlier called off a strike scheduled for January 30, 2023, after the government agreed to hold talks with the unions.
  2. Government's Offer: The government had offered to set up a committee to look into the concerns of the bank unions, but the unions were not satisfied with the offer.
  3. Strike Dates: The UFBU had announced a series of strikes, including a two-day strike on January 30-31, 2023, and a one-day strike on February 27, 2023.

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