The United Forum of Bank Unions called for a strike across the nation to protest against the privatization of two public sector banks. In 2019, the government has privatized IDBI bank in the lender to LIC.
While presenting the Union Budget, Finance Chief Minister Nirmala Sitharaman announced the privatization under the disinvestment plan of the government.
Services that could be affected are – opening a new account, withdrawal, loan approvals, cheque clearance, and deposits at the bank. State Bank of India (SBI) along with other public sector lenders have notified their customers that several services could be affected at certain branches during the strike. Private banks namely ICICI, HDFC, Axis Bank, and IndusInd may remain unaffected.
