After the United Forum of Bank Unions (UFBU)  an umbrella body of nine unions announced a two-day nationwide strike on December 16-17., 

BJP led Modi government which recently repealed farm laws under pressure  proposed ‘reconciliation’ with the Bank Unions, following which a high-level meeting was held in Delhi on December 8

However, the meeting that lasted for hours failed to reach any conclusion because the government did not give any assurance on the introduction of the Banking Laws (Amendment) Bill, said a source who was present inside the meeting.  

Representatives of various bank unions have multiple times asked the Modi government not to go ahead with the Bill which will eventually pave the way for the privatisation of public sector banks in India.  

Indian banks due to settlement of bad loans in favour of 13 big corporates, public sector banks have incurred a loss of over 2 lakh 84 thousand crores in the last two years. 

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And despite protest from trade unions, the Modi government has included the Bill in the agenda of the winter session.    

Speaking to media  CH Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA) said that the unions were even ready to recall the strike, but representatives of the government involving the Finance Ministry and the Labor Ministry did not give any assurance. 

Moreover, they termed the pre-scheduled strike as ‘unwarranted’.  “Since there is no assurance from the government or from the IBA not to bring the Bill in the current Session of the Parliament, it has been decided that we will go ahead with the strike on December 16th and 17th”, added Venkatachalam.  

Meanwhile, in an attempt to cut down the impact of the nationwide strike, Union Bank issued a letter to all employees, warning them of action if they take part in the strike. 

Bnking sources confirmed several other public sector banks have issued similar warning letters. 

Dated December 2, after the announcement for the nationwide strike was made by the UBF, the Union Bank letter reminds its employees of their contract and the nature of the jobs.