Public sector banks (PSBS) across Gujarat are expected to be closed on Thursday and Friday, as bank officers and other employees are set to hold a strike to protest against the proposed privatization of PSBs.
According to the Maha Gujarat Bank Employees’ Association, approximately 4,800 bank branches will be closed across the state for two days, affecting transactions worth Rs 20,000 crore (MGBEA).
“Bank closures have a significant impact on businesses. Bankers may have valid complaints, but keeping the banks closed does not help businesses “Pathik Patwari, senior vice-president of Gujarat Chamber of Commerce & Industry, stated (GCCI). Patwari continued, “Nationalized banks have a widespread presence in small towns and villages. As a result of the two consecutive days of shutdown, businesses in that area will suffer as well.”
Online transactions can be made but the formalities that require to be attended to at the banks will be possible only after the banks open.
Approximately 70,000 bank employees and officers are expected to go on strike. They will join the national uprising of public-sector banks. Janak Rawal, the general secretary of MGBEA, said, “Bank officers and other employees are against the Banking Regulation Act which proposes to privatize national banks.” Rawal added,”Government schemes are effectively implemented by public sector banks and instead of strengthening them, the government has pushed for shutting them.”
Rawal stated that public funds are for the benefit of the public and should not be transferred to private hands. “In fact, the proposed privatisation will have a negative impact on recruitment in the banking sector,” Rawal said.