Banking services to be hit; Bank Strike this week

Banking services likely to be impacted this week amid a bank strike and regional holidays. Banks in some regions are likely to be shut for 4 days at the end of the week.

United Forum of Bank Unions has called for a two-day strike against the bank privatisation on December 16 and 17. Though banks are stating that services will not be impacted e. xperts expect disruption for even the banking giant SBI

Banking unions are opposing government's plan to privatise public sector banks by introducing the Banking Laws (Amendment) Bill 2021. Reportedly, the bill will bring down the minimum government holding in the PSBs from 51 per cent to 26 per cent.

Aside from the strike, banks will be closed for four days in Meghalaya amid a regional holiday on December 18, Saturday.