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Bank strike on August 22 2017

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There would be a bank strike on August 22. Over 10 lakh bankers will go on strike on August 22 as talks between the United Forum of Bank Unions (UFBU) on one side and Indian Banks’ Association, chief labour commissioner and the Department of Financial Services (DFS) failed on Friday.

A notice of a nationwide strike on August 22 to protest against the reforms in the banking sector among other issues was given. 10 lakh bankers working in around 132,000 branches would be on strike on August 22.

West Bengal convenor of UFBU, Siddhartha Khan said that the government is ushering in privatisation and consolidation in the Indian banking sector in the garb of reforms.

He said that the Bank Board Bureau had been formed to bring all the public sector banks (PSBs) under a banking investment company and get the government’s share in PSBs below 50 per cent.

The banks are giving very little stress on recovery of bad loans and taking recourse to either write-offs or provisioning,” he told reporters on Thursday.

Rise in the gross NPAs of all the PSBs to Rs 6.83 lakh crore was also a major cause for concern and the banking system’s financial health was suffering due to provisioning.


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