Banking operations hit by state-run banks staff strike

Banking operations at PSU banks hit with employees on a say’s strike

"The strike is a huge success".

Venkatachalam said around 12 lakh financial instruments valued at around Rs 7,300 crore could not be cleared. Foreign exchange transactions, import and export bill transactions and sanction of loans, among others, were also affected.

In Patna, all clearing operations remained closed.

"The strike was a total success in Maharashtra".

Besides clearing and processing of cheques, ATM operations were also hit in the State as they were not replenished during the day. Venkatchalam said the government should abolish the Banks Board Bureau and ensure stringent measures to recover bad loans and accountability of top executives. A few of the employees had also gathered in front of the Regional Office of Canara Bank in Nazarbad and staged protest.

Malkeet Singh said after the strike on August 22, a massive rally would be conducted on September 15 followed by continuous strike for two days in October or November. He said, "Wages and service conditions in the banking sector are governed by the industry level Bipartite Settlement signed by the Indian Banks' Association (IBA), Workmen Unions and Officers Associations operating in the banking sector".

Twenty one public sector banks, including SBI and IDBI, are likely to see major disruption in operations tomorrow as bank unions go on a nation-wide strike.

Bank services at Public sector will be affected by the strike on Tuesday.

“The strike was 100 per cent successful in Assam and other parts of the Northeast.

Out of about 90,000 employees in the banking sector in Bengaluru, 80,000 employees upto the rank of Manager participated in the strike.

The demand of UFBU includes, it aims to stop the merger of banks and their privatization. The government should allow banks to take criminal action against the defaulters.

According to union leaders, around a million bankers working in around 1,32,000 branches will be on strike. Though ATMs were operational, some ran out of cash by noon as there were no replenishments.

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