Bank Activities Affected In Jharkhand After 40K Employees Stage Protest Over Privatisation

Credits: ANI 

The Logical Indian Crew

Bank Activities Affected In Jharkhand After 40K Employees Stage Protest Over Privatisation

Besides, 3,300 ATMs were shut in the state. The bank union convenor said that this could affect daily transactions of ₹3,000 crores.

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The banking operations in Jharkhand were severely affected earlier this week after 40,000 employees of 3,200 public sector bank branches joined the nationwide strike against the government's decision to privatise PSBs. Besides, 3,300 ATMs were shut in the state.

According to the Hindustan Times report, the employees are the public sector lenders and are members of the United Forum of Bank Union (UFBU), an umbrella body of nine associations.

The 2021-22 union budget presented by Finance Minister Nirmala Sitharaman proposed privatising two PSBs. The government has listed the Banking Laws (Amendment) Bill, 2021, for introduction and passage during the current session of Parliament.

Hitting The Backbone

The union demanded immediate withdrawal of the bill stating it would hit the country's backbone.

Kolhan Division Most Affected

Speaking at the gathering, union convenor M L Singh said that the shutting down of ATMs could affect daily transactions of ₹3,000 crores. The strike could affect an average transaction of ₹1,200 crores a day in PSBs, especially in the Kolhan division, which is considered the mineral-rich area and the industrial hub of Jharkhand, Singh added.

According to the media report, nearly 1,300 bank branches and 800 ATMs stopped functioning in the Kolhan, along with the East and West Singhbhum and Seraikela-Kharswan districts.

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