He said that the strike may affect the functioning of public sector banks. However, private sector banks will not be affected by this.
Although the officer class will not participate in this strike, it may affect deposits, withdrawals, clearing of checks in banks.
Several banks, including Bank of Baroda and Punjab & Sind Bank, have already informed their customers about the impact of services in the event of a strike on November 19.
Punjab and Sind Bank told the stock exchanges on Thursday that bank employees can participate in the strike if it happens. In such a situation, the normal functioning of the branches/offices of the bank is likely to be affected.
Venkatachalam said outsourcing of jobs by some banks could pose a risk to the privacy of customers and their deposits.
He said that some banks were also violating the Industrial Disputes (Amendment) Act.
He further said that even in cases where labor officers have intervened, the management is ignoring the advice. Employees are being forcibly transferred by the management.