Banking Reforms: 10 lakh employees to go on strike on July 29

United Forum of Banks Unions, in a notice on Tuesday July 12, 2016 said that nearly 10 lakh employees and officers of public sector banks will go on a nation-wide strike on July 29. 

The strike has been called against 'banking reforms' that the Union Government initiated earlier this month. Under the reforms process, associate banks of State Bank of India (SBI) are to be merged with the latter. Finance Ministry has also said other public sector banks will be merged to reduce their number to under 10. 

The unions had called for a strike on July 12 and 13 but deferred citing Delhi High Court's interim order. 

They said in a statement, "On a petition filed today by the managements of the 5 Associate Banks in the Delhi High Court, the Court has passed an Interim Order restraining our organisations from implementing the strike notice and resorting to strike until the case is heard which has been posted for hearing on 20 th July, 2016."