HYDERABAD: As the two-day strike against the privatisation of banks and Banking Laws Amendment Bill, 2021, began, customers are finding it difficult to avail banking services as several services such as cash deposits and clearance of cheques were hit.
In the wake of the strike, several ATM machines have run out of cash while many customers are having to wait for hours to deposit money in the deposit machines. At this time, digital payment platforms have come to the rescue of many.
In Telangana, the United Forum of Bank Unions (UFBU), comprising unions such as the All India Bank Officers Confederation, All India Bank Employees Association, called for a strike opposing the privatisation of the public sector banks.
According to the UFBU, public sector banks have to be strengthened further and expanded to accomplish the goals, aims and objectives of bank nationalisation. Banks represent the precious savings of the people and hence it is imperative that the government should be the custodian of the banks and the people’s money therein, it added.
Speaking to Express, R Sriram, Convenor, UFBU Telangana Unit, said that around 50,000 employees working in various public sector banks in the State have supported the strike. Privatisation of public sector banks will jeopardise the interests of the common people and backward regions of the country, he added.
UFBU Convenor BS Rambabu said that if the BJP-led Central government moves forward with the bill in the Parliament to privatise the banks, bank employees and officers are prepared to go to any extent, including an indefinite strike against the privatisation, as it is detrimental to the interests of the nation and its people.
Bank unions pointed out that in the recent past private sectors like RBL Bank, Bandhan Bank and four small finance banks have posted losses. Thus, common citizens are scared of private sector banks. During the pandemic, it is the public sector banks that provided uninterrupted customer services, they said.