Insta
Unions Defer Impending Public Sector Bank Strike Over PSB Mergers After Assurances From Government
IANS
Sep 24, 2019, 11:39 AM | Updated 11:39 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
An impending public sector banks' strike from 26 to 27 September over the mega-bank merger scheme has been deferred by state-run lenders' unions after the government gave assurances to form a committee which will look into the issues arising out of the consolidation.
The strike was deferred by the four officers' unions of the banking industry after their representatives met with Finance Secretary Rajiv Kumar.
Kumar gave positive feedback on the formation of a committee which will look into the issues arising out of the merger.
"The Secretary Finance was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks, including preserving the identity of all the banks," the unions said in a statement on Monday evening.
"An appeal was made to us to revisit our strike call in view of the discussions... In view of the consideration of the positive and workable solution by the Secretary, Finance, the 48-hour strike from midnight of 25 September to 27 September stands deferred".
The development assumes significance as the proposed strike call by the state-run lenders' unions against the mega PSB merger would have commenced on Thursday (26 September) and end on Friday (27 September).
This strike, along with the planned monthly non-working day of fourth Saturday (28 September) and Sunday (29 September), would have effectively shut PSB operations for four consecutive days, thus, hampering cash withdrawals at branches and ATMs.
The strike call was given by four officers' unions of the banking industry - All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers Congress (INBOC) and National Bank Officers' Organisation (NOBO).
This article has been re-published from a syndicated feed, only the headline has been changed.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.