Over nine lakh employees participated in the nationwide agitation. | |
| The banking services and trade were affected today as employees of public sector banks went on a strike to protest against the merger of associate banks with the State Bank of India. They were also demanding that they be given another chance to opt for pension. |
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| The work at public sector bank branches was severely affected. Only the ATMs were working, as the machines were stocked with cash before the agitation started under the aegis of United Forum of Bank Unions (UFBU). |
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| "More than nine lakh employees and staff participated in the day-long nationwide strike, paralysing the normal banking operations. The clearing operations were also affected," said, C H Venkatachalam, general secretary, All India Bank Employees Association (AIBEA). |
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| Only 7,322 high-value cheques worth Rs 2,663 crore came up for clearing in Mumbai, RBI official said. The volumes in bond market were thin. Some banks, which had not covered for long weekend were in market for funds. This impacted in the call market in the morning. The call rate was hovering around 8 per cent in the morning. |
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| H N Sinor, chief executive, Indian Banks Association (IBA), said that the issue of merger is specific to a particular bank and the association was not a party to it. He said the demand for a second pension option is unviable and not negotiable. "However, we are open to discussing any alternative viable option," he said. |
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| Sinor said ATMs were flush with cash so that the common man did not run out of emergency cash during the week end. |
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| Banking services will be out of reach of customers till Monday as the strike today is followed by Republic Day holiday tomorrow, which will be followed Sunday. |
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| Mumbai and Delhi were least affected while West Bengal, Kerala, Rajasthan and Andhra Pradesh were among the most affected by the strike, Sinor added. |
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