The United Forum of Bank Unions has called a two-day nationwide strike on December 16 and 17 in protest government’s plan to privatise public sector banks. The Banking Laws (Amendment) Bill 2021 will be introduced by the Central Government in the ongoing winter session of the Parliament.
The main aspect of the bill is to privatise two public sector banks, amendments need to be made in Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1970 and 1980, as well as incidental amendments, are required to be made in the Banking Regulation Act, 1949.