Bank strike may hit Rs 24,000 cr transaction in state

Banking operation in the state came to standstill on Wednesday as about 70,000 employees of 5,000 branches of different public sector and private banks across Odisha resorted to agitation in response to two-day strike call given by the United Forum of Bank Unions (UFBU).

UFBU is an umbrella organization of nine trade unions of employees and officers of PSU banks.

“The two-day strike may affect banking transactions to the tune of Rs 24,000 crore. We oppose the banking reforms proposed by the Centre which would ease merger rules and allow more private banks into the sector,” said Bibekananda Das, Zonal President, State Banks Officer’s Association, Bhubaneswar Module.

The reforms proposed by the government are not warranted and hence not acceptable, read an official release of UFBU, Odisha state unit.

“The various financial policies of the government are detrimental to the interest of the banking sector, general public, banking staff and their rights and benefits,” the release said.

The banking unions are also opposing unilateral implementation of the Khandelwal committee report on human resources management in PSU banks.

In spite of several correspondence and meetings with the Indian Banks Association (IBA), the government has unilaterally decided to go ahead with implementation of some of its anti-employee policies, which has forced us to go for a two day strike, Das said.

He maintained some of the private banks operating in the state have supported us and closed their branches.

However, currency notes are stacked in ATMs so that the normal public will face minimum inconvenience, he added.