Services in state-owned banks may be affected as some of the employees unions have decided to observe nation-wide strike on Tuesday to protest against bank mergers and fall in deposit rates. The unions are protesting against the Narendra Modi government’s decision to merge ten public sector banks into four bigger banks.
Out of 9 public sector bank unions, two workmen unions — All India Bank Employees’ Association (AIBEA) and Bank Employees Federation of India (BEFI) are backing the strike.
While banking operations are expected to be hit due to the strike, many banks, including branches of State Bank of India (SBI) are likely to remain open.
11:10 AM | SBI ATMs to remain shut as these are under the strike ambit
10:50 AM | Banking operations affected as unions protest merger
10:35 AM | Strike impact on operations minimum as most employees not part of protesting union
SBI has claimed the impact of the strike on its operations will be minimum as most of its employees are not members of the participating unions.