Banking companies could get affected later this month as a result of proposed strike: Canara Bank

Public sector lender Canara Bank on Thursday mentioned that banking companies could get affected later this month because of the proposed strike by a number of financial institution unions.
“We have been informed by the Indian Banks’ Association (IBA) that the United Forum of Bank Unions (UFBU) has given a call for strike in the banking industry on March 15 and March 16, for issues relating to industry level and not for any bank level issues,” Canara Bank mentioned in a regulatory submitting.
Canara Bank mentioned it’s taking mandatory steps for clean functioning of financial institution branches and workplaces on the times of the proposed strike.

“However, in the event of strike materialising, the functioning of the branches/offices may be impacted,” mentioned the lender.
A bunch of financial institution unions have given a name for strike on March 15-16.

AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, IBOC, NOBW, NOBO and AINBOF are the financial institution unions which have given a name for strike towards the proposed privatization of two state-owned lenders by the federal government.