Nagpur Local

Banks to remain shut for 4 days.

The several banks across the country will remain closed from September 26 to September 29, affecting regular banking services due to strikes and holidays.

Four banking unions –

All India Bank Officers’ Confederation (AIBOC),

All India Bank Officers’ Association (AIBOA),

Indian National Bank Officers’ Congress (INBOC),

National Organisation of Bank Officers (NOBO)

Following the recent government announcement on an amalgamation of 10 public sector banks into four have called for a strike. To protest against the merger these banking unions have threatened to go on a two-day strike between September 26 and September 27. As official holidays September 28 will be the last Saturday of the month and September 29 is a Sunday, and hence banks will be closed on those two days.

Hence banks will be closed for all 4 days. Punjab National Bank, Oriental Bank and United Bank will be merged to become the second-largest PSU Bank in India  Canara Bank and Syndicate Bank will be merged into one entity to be 4th largest PSB, Finance Minister Nirmala Sitharaman had announced on August 30. She also added while Union Bank of India, Andhra Bank and Corporation Bank will be amalgamated into a single entity to be the 5th largest PSB; and Indian Bank and Allahabad Bank will become one entity to be the 7th largest PSB. After the amalgamation, only 12 PSBs will be left in India from the 27 earlier. The Bank of India and Central Bank of India would remain independent said the Finance Minister.

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