wnol.info March 24 2018

Banks to go on strike on Tuesday, services may be affected

March 24 2018, 07:57 | Irvin Gilbert

Banks to go on strike on Tuesday, services may be affected

Bank union leaders chanting anti-government slogans in Patna on Tuesday

The nationwide strike called upon by nine bank unions on Tuesday saw major participation of almost 10 lakh employees and officers of public sector banks across 10,300 branches in the country.

Due to the strike all banking activities were stopped.

The strike has been called by unions under the aegis of the United Forum of Bank Unions (UFBU).

According to union leaders, around 10 lakh bankers working in around 132,000 branches will be on strike tomorrow. Businesspersons and other traders also had to return disappointed as the exchange of cheques and other transactions could not be done.

With the aforementioned banks accounting for about 75 per cent of the total banking business in the country, cheque-clearing operations were severely impacted.

Bank employees under the UFBU banner observed a dharna within the campus of State Bank of India on K G Road between 10.30 am and 12.30 pm.

"The decision of government has adversely affected the life of bank employees".

General Secretary of All India Bank Employees, CH Venkatachalam said, "We wanted an assurance from the Prime Minister and the Finance Minister that there will be no privatization of banks and no mergers of public sector banks". But since service at branches will be affected, crowds are likely at ATMs.

Malkeet said that the government is ushering in privatisation and consolidation in the Indian banking sector in the garb of reforms.

"Privatisation of banks would mean privatising the Rs 80 lakh crore of common people's money available in our banks.This is risky for the country and our people". He said the public sector banks are more reliable and collected deposits worth more than Rs 80 lakh crore. Later, the UFBU submitted a memorandum of demands to the General Manager of SBI.

UFBU also demands immediate implementation of the parliamentary committee recommendation on recovery of NPA and adequate recruitment in banks, ” the striking staff said.

There is a possibility that most banks will remain closed today.

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