operations were hit today by the nation-wide strike called by employees of public sector banks
to protest against the government's proposed consolidation move and to press for other demands.
Operations such as clearing of cheques, money transfer, cash
remittances, and deposit and withdrawals at branches were hit across public sector banks
and some old generation private sector banks, as per the reports received from various parts of the country.
The impact of strike was seen in major business centres like Mumbai, Kolkata, Patna, Chennai, Hyderabad, Bangalore, Ahmedabad, Pune
and Jaipur, while some ATMs in small cities went dry, according to reports from various parts of the country.
The Indian Banks' Association (IBA) had already informed customers that functioning of branches and offices may take a hit due to the one-day strike. It had also asked banks
to take measures in advance to minimise the impact.
The strike has been called by all unions under the aegis of the United Forum of Bank
is an umbrella body of nine unions, including the All India Bank
Officers' Confederation (AIBOC), the All India Bank
Employees Association (AIBEA) and the National Organisation of Bank
AIBEA General Secretary C H Vekatachalam said government is talking of consolidation, amalgamation and merger of banks
at a time when India needs more banking
mergers would result in closure of bank
branches as is happening in the case of SBI now after the merger of associate banks, he said, adding that creation of big banks
through mergers would also increase risks for lenders.
AIBOC General Secretary D T Franco demanded that the government should immediately raise gratuity limit for bank
employees to Rs 20 lakh.
Other demands of the unions include no write-off policy for non-performing assets (NPAs) of corporate loans, declaring wilful default of loans as criminal offence and implementation of recommendations of Parliamentary Committee on Recovery of NPAs, NOBW vice-president Ashwini Rana said.
The government should provide overtime for additional work employees did during demonetisation phase, he said.
The UFBU, which claims membership of nearly 10 lakh across banks, requested the government for cost reimbursement of demonetisation to banks.
As many as 21 public sector banks
control 75 per cent of the total banking
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)