Operations of public sector banks to be hit next week

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New Delhi: Bank branches will remain shut for four straight days on account of two holidays and the 2-day nationwide strike.

All PSU banks and regional rural banks have called for a strike on March 15 and March 16 against privatisation of two-state-owned lenders.

On March 11, branches will remain closed in select states like Uttar Pradesh, Bihar on account of Maha Shivratri. On Friday, banks will function normally and then from 13 March, second Saturday of the month, to 16th March, the branches will be closed.

“We have been advised by Indian Banks Association (lBA) that United Forum of Bank Unions (UFBU) which comprises nine major unions, has given a call for all India strike by Bank Employees on 15th & 16th March, 2021. While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted by the strike,” State Bank of India said.

Currently, there are 12 public sector bank and post budget announcements. This number will be reduced to 10 in FY22. The government has set a disinvestment target of Rs 1.75 crore for FY22.