Banking services crippled in over 500 branches in tricity

Tribune News Service

Chandigarh, March 15

Banking services in over 500 branches of public sector banks in the tricity were crippled as employees went on a strike for two days, starting today, opposing privatisation. Services such as deposits and withdrawal at the branches and cheque clearance were affected as banks remained closed.

“Today was the last date to deposit the EMI for my two-wheeler loan. I was not aware of the strike and since the branches are closed, I will be subjected to a penalty for no fault of mine,” said Kamal Thakur, a public sector bank customer. There were many like Kamal who were unaware of the strike.

The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions. It has called for a two-day nationwide strike on March 15 and 16 against the privatisation of public sector banks.

Monday was the last date to deposit the EMI for my two-wheeler loan. I was not aware of the strike and since the branches are closed, I will be subjected to a penalty for no fault of mine. —Kamal Thakur, A customer

In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of the disinvestment plan of the government to generate Rs1.75 lakh crore. While opposing the legislations to privatise the banks, Sanjay Kumar Sharma, convener of the UFBU (Chandigarh, Panchkula, Mohali), said instead of further strengthening public sector banking, the present policies were aimed at weakening PSBs, by starving them of the required capital, human resources, through disinvestment and proposed privatisation.

Branches of private sector lenders such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank and other new generation banks were, however, open as they were not part of the strike.