In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services.
About 10 lakh bank employees and officers are to participate in the strike called by the United Forum of Bank Unions, an umbrella body of nine associations and groups.
The very purpose of nationalisation in India — serving the unbanked and under-banked — is yet to be achieved and financial inclusion cannot afford the luxury of complete privatisation
This year, the bank will focus on startups creating social impact at scale in sectors such as Education - technology (ed-tech) and skill development, among others.
The development follows recent outage in the bank's internet banking and payment system on November 21, 2020 due to a power failure in the primary data centre.