India’s largest lender, State Bank of India, has warned that banking services may be impacted to some degree by a two-day strike called by various employees’ unions on March 28-29.
‘We advise that while the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the days of strike, it is likely that work in our bank may be impacted to a limited extent, by the strike,’ SBI said in a regulatory filing. SBI said it could not quantify how much the bank stands to lose because of the strike.
In a statement, SBI said it has been informed by the Indian Banks’ Association (IBA) that the All India Bank Employees Association (AIBEA), Bank Employees Federation of India (BEFI), and All India Bank Officers’ Association (AIBOA) have notified them about their decision to go on a nationwide strike. Government plans to privatize public sector banks and the proposed Banking Laws Amendment Bill 2021 have prompted the strike.
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