Public Sector Bank Employees To Strike On March 15, 16, What Services Will Be Hit, All You Need To Know

Employees of various public sector banks prepare to go on strike on March 15 and 16 over the Centre’s decision to privatise two state-owned lenders. Banking services are likely to be hit across the country. Banks were already closed on March 13 (second Saturday) & March 14 (Sunday), which now means a four-day break in regular banking operations. Services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected due to the strike. However, ATMs are likely to remain functional. Private banks, like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank & IndusInd Bank, will be functioning normally. The strike comes after Finance Minister Nirmala Sitharaman’s Union Budget 2021-22 announcement where she announced the privatisation of two public sector banks (apart from IDBI Bank) as part of the government’s disinvestment drive to generate Rs 1.75 lakh crore. Watch the video to know more.