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    Good News: Bank Unions Defer 2-Day Strike; Operations To Be Normal On September 26-27

    The Officers' unions of public sector banks had given a call for the pan bank strike to protest against the consolidation of 10 state-run lenders into four

    In a major relief with festivals around the corner, the Officers’ unions of public sector banks have deferred the proposed two-day strike following an assurance from Union Finance Secretary Rajiv Kumar to look into their concerns.

    The All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) has earlier called for a pan-India strike by bank employees on September 26th and 27th , 2019 to protest against the consolidation of 10 state-run lenders into four.

    It may be noted that the bank strike call would have not only affected transactions at bank branches but also badly affected ATMs is a festive season.

    Union Finance Minister Nirmala Sitharaman on August 30th, 2019 announced to bring the down the total number of Public sector banks to 12 from 19. According to the mega consolidation plan, the United Bank of India and the Oriental Bank of Commerce are to be merged with the Punjab National Bank. The Syndicate Bank is to be merged with Canara Bank, while the Allahabad Bank will be merged with Indian Bank. On the other hand, Andhra Bank and Corporation Bank will amalgamate with the Union Bank of India.

    Photo credit: zeebiz.com

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