Along with the sharp decline in poverty in India, there has also been a marked reduction in the rural-urban income divide in the country, according to an SBI Research analysis of a Consumer Expenditure Survey released on Tuesday.
Bank services of several banks are likely to be affected on March 15 and 16 due to a two-day strike. About 10 lakh bank employees are expected to join the nationwide strike as s sign of protest against the Central government’s decision to privatise public sector banks, the All India Bank Employees Association (AIBEA) said on Thursday.
According to AIBEA General Secretary C. H.Venkatachalam, the conciliation meeting held between the bank unions and the Union Finance Ministry on March 4, 9 and 10 failed.
The unions said they would reconsider their strike call if the government agrees to reconsider their decision to privatise public sector banks.
As the Finance Ministry representative could not give any such commitment, the conciliation meeting did not yield any positive result, they said.
On March 10, in an exchange filing the State Bank of India said, “we have been advised by Indian Banks Association (IBA) that United Forum of Bank Unions (UFBU)… has given a call for all India strike by bank employees on 15th & 16th March 2021.”
Similarly, the Bank of Maharashtra said, “If the strike materialises, the normal functioning of the Bank’s branches/offices is likely to be affected. The bank is taking all necessary steps to minimise the impact of the strike so as to provide the normal banking services to its customers.”
While both the lenders are trying their best to minimise the effect on their respective banking services, it is likely their functioning will be affected by the strike.