The Ministry of Labour and Employment has declared banking industry as a public utility service (PUS) for six months starting April 21, 2020 till October 21, 2020 under the provisions of the Industrial Disputes Act, 1947.
It means the employees and officers of the banking sector are barred to do any strikes in the given period.
This decision has been taken due to the adverse impact of COVID-19 on the economic activities.
Relates keys:
About Department of Financial Services:
The Department of Financial Services works under the aegis of the Finance Ministry.
It covers the functioning of Banks, Financial Institutions, Insurance Companies and the National Pension System.
The Department is headed by the Finance Secretary.
Finance Secretary– Debasish Panda
About Ministry of Labour & Employment:
Minister of State (MoS)– Santosh Kumar Gangwar
Secretary– Heeralal Samariya
