Banking operations, including cheque clearances, across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions (UFBU) have gone on a nationwide strike to protest against the proposed privatisation of two State-owned lenders.

UFBU, an umbrella body of nine unions, has given the strike call for March 15 and 16, and claimed that about 10 lakh bank bank employees and officers will participate in the strike.

However, branches of private sector lenders such as ICICI Bank, HDFC Bank and Axis Bank are open as they are not part of the strike.

In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced privatisation of two public sector banks (PSBs) as part of the government's disinvestment plan.

The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC, and has merged 14 public sector banks in the last four years.

According to All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam, services at branch level, cheque clearance and government transactions have been affected.

Besides, money markets and stock markets are also going to face problems as payments would be impacted, he said.

Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA) and Bank Employees Confederation of India (BEFI).

Others are the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).

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