NEW DELHI – Banking services across India were disrupted on Tuesday aftertwo bank unions announced a 24-hour-long strike in protest against theCentral government’s decision to merge ten public sector banks into fourbigger banks.
The plan to merge bankslinkwasone of several measures undertaken by the Central government to reviveeconomic growth which has been on the lower side for the last five years.
The announcement, once implemented, will bring down the number of suchbanks from 27 in 2017 to 12 in 2019.
The All India Bank Employees’ Association (AIBEA) and the Bank EmployeesFederation of India (BEFI) are the two unions leading the protest againstthe recent merger of banks, falling deposit rates and the lack of jobsecurity, media reports said.
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About 350,000 employees affiliated to these two unionslinkand BEFI) are taking part in the strike, Sputnik has reported.
The bank unions decided to go ahead with their strike after talks with theChief Labour Commissioner of the Indian Ministry of Labour had failed onMonday.
