Bank unions have decided to go on a nationwide strike on August 22 against the government’s proposed reforms in the sector, reported PTI. Services are likely to be hit as about 10 lakh bankers in 1,32,000 branches will be on strike on Tuesday.

The decision to go strike was made after talks between the United Forum of Bank Unions, Indian Banks’ Association, the chief labour commissioner and the Department of Financial Services failed on Friday.

“We wanted an assurance from the prime minister and the finance minister that there will be no privatisation of banks and no mergers of public sector banks,” CH Venkatachalam, the general secretary of All India Bank Employees Association told The Hindu. “As no such assurance came at the conciliation meeting, we have decided to go ahead with the August 22 strike.”

The United Forum of Bank Unions includes nine unions such as All India Bank Officers’ Confederation, All India Bank Employees Association and National Organisation of Bank Workers.

All India Bank Officers’ Confederation General Secretary DT Franco said unions were left with “no other option but to go on strike” as the conciliation meeting with the chief labour commissioner failed. “There was no assurance from the government and the management of banks,” he said, according to the Hindustan Times.