Employee strike impacts banking operations, some ATMs go dry

Banking Operations Hit Across Country As Staff Go On Strike
Around 12 lakh financial instruments worth Rs 7,300 crore would not be cleared said an official
Author

23 August, 2017

The strike called by all union under the umbrella of United Forum of Bank Unions may affect services in public sector banks.

AIBEA General Secretary C H Venkatachalam stated, to declare that the wilful default of loans as criminal offence and implementation of recommendations of the parliamentary committee on behalf of the NPAs. The government's move to merge private banks and privatize banks On Monday evening, bank officials performed at the State Bank branch of Hazratganj.

Among the 17-point charter of demands, the main demands are relating to government's denial of adequate capital to public sector banks thus creating conditions for privatisation, AIBEA said in a statement issued on Tuesday.

As many as 21 public sector banks control 75 per cent of the total banking business.

Foreign exchange transactions, and import and export bill transactions were also affected. "Trying to privatise them in the name of reforms is nothing short of foolishness", they said. It had also asked banks to take measures in advance to minimise the impact.

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Several thousand bank employees staged a rally at Azad Maidan in Mumbai which was addressed by leaders of UFBU and its nine affiliated unions.

UFBU said if their demands are not fulfilled the employee would hold a "morcha/dharna" at Jantar Mantar New Delhi followed by procession to Parliament and two-day strike in October and 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".

The strike has been called by all unions under the aegis of the United Forum of Bank Unions (UFBU). ATMs are also likely to empty sooner than usual as bank branches will remain shut.

Most of the PSU banks which will be participating in today's strike, have already informed their customers about the delay in transactions.


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