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Bharat Bandh Bank Strike

Bank unions joined the walkout to oppose the government's proposal to privatize the public banking sector and the Banking Laws Amendment Bill 2021. A federation of leading organized labor unions has called for a national strike to protest Central Government policies affecting employees. According to the All India Bank Employees Association, the banking industry would join the strike.

Following a meeting of the unified platform of central trade unions on March 22, 2022, the demand for a countrywide strike was issued. Following a review of arrangements in different states, the unions planned a two-day all-India protest against the central government's anti-national policies, anti-worker, anti-people, and anti-farmer.

Participants Of Bank Strike In India

The railway and defense unions planned a massive mobilisation in favor of the strike at numerous national locations. Professionals from several other industries, including telecommunications, steel, coal, oil, copper, postal, income tax, and insurance, will likely join the protest. If workers are ready to join the strike, their pensions will not be affected.

Policies At Bank Strike March 2022

Recent state elections have heightened attacks on the working class, including cutting interest rates on EPF deposits from 8.5 % to 8.1 %, a significant rise in the price of petrol, LPG, kerosene, and CNG prices, and attempting to make success in achieving monetisation, but are hampered by deepening inflation and collapsing share markets.

As a result, the Forum of Central Trade Unions and Sectoral Federations and Associations called on all segments of society to join the strike in the name of "Save People, Save Nation."

Bank Strike Impact On Stock Market

Payments are typically unaffected because most transactions take place on a digital service until a technology breakdown occurs during the strike time. However, stock market stakeholders are usually aware of any possible threats.

Impacts of the Bank Strike

Bank unions have declared a national strike for March 28th and 29th, 2022. The weekend before the protest, the banks will be closed, making it four days in a row. As a form of protest, the majority of branches were closed. This created a delay, if not a complete halt, in everyday activities, resulting in uncleared checks and wacky bank methodologies. There was also a potential that ATMs would run out of cash, given how long the protest lasted. Customers will benefit from online services since they won't be unaffected. The operation of next-generation private commercial banks remained unaffected.