Tuesday, May 17th, 2022 05:39:57

Banking industry to be a public utility service till six months, says govt

Updated: April 25, 2020 10:25 am
Government has declared banking industry as a public utility service for six months till October 21 under the provisions of the Industrial Disputes Act.

Bringing banking services under the provisions of this Act means that the banking sector would not see any strikes by employees or officers during the operation of the law starting from April 21. In a circular, Department of Financial Services said the labour and employment ministry through a notification has declared “banking industry as a public utility service” for six months.

The notification was issued by the labour ministry against the backdrop of the coronavirus pandemic which has significantly impacted economic activities.

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