Banking services may be impacted partially due to nationwide strike on Mar 28-29

Banking services may be hit partially on Monday and Tuesday as a section of bank employees unions has supported the twoday nationwide general strike called by trade unionsThe joint forum of central trade unions and various sectoral independent trade unions have given the strike call on Monday and Tuesday to protest against governments antipeople economic policies and antiworker labour policiesTheir demands include scrapping of the labour codes no privatisation of any form scrapping of the National Monetisation Pipeline NMP increased allocation of wages under MNREGA and regularisation of contract workers among othersAIBEA has decided to support this call and join this strike to focus on demands in the banking sectors All India Bank Employees Association AIBEA saidIts general secretary C H Venkatachalam said the bank union demands the government to stop privatisation of public sector banks and strengthen them speedy recovery of bad loans higher deposit rates by banks lower service charges on customers as well as restoration of old pension schemeThe AIBEA in public sector banks private banks foreign banks cooperative banks and regional rural banks will join the strike the bank union said in a statementA number of public sector banks including countrys largest lender SBI have said that their services may get impacted to a limited extent due to the strikeSBI said it has made necessary arrangements to ensure normal functioning in its branches and offices on the days of strikeIt is likely that work at our bank may be impacted to a limited extent by the strike SBI saidCityheadquartered Punjab National Bank PNB said AIBEA Bank Employees Federation of India BEFI and All India Bank Officers Association AIBOA has served notices proposing to go on strike on March 2829 2022While 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 to a limited extent by the strike PNB saidBengaluruheadquartered Canara Bank said it is taking necessary steps for smooth functioning of bank branches and offices However if the strike materialises the functioning of the bank may be impacted Canara Bank addedPrivate sector RBL Bank said its bank unions are affiliated to AIBOA and AIBEA and the employees associated with these unions may participate in the strikeThe subject strike is for the issues at the industry bevel and is nowhere related at bank level issues The bank will take all necessary steps for smooth functioning of the banks branchesoffices on the days of strike However it is likely that some of our branches would also be impacted by the strike RBL saidBesides the twodays strike the customer banking services may also get impacted on March 31st as RBI has asked the banks to participate in the exercise of annual closure of government accounts for the current fiscal year 202122All government transactions done by agency banks for financial year 202122 must be accounted for within the same financial yearAll agency banks should keep their designated branches open for over the counter transactions related to government transactions up to the normal working hours on March 31 2022 the RBI said in a notification to banksSpecial clearing will be conducted on Thursday for collection of government cheques and RBI will issue necessary instructions in this regardThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever