Strike hits banking operations in Tamil Nadu

Banking operations in Tamil Nadu came to a virtual standstill Wednesday as around 60,000 bankers demanding a wage revision went on a strike, said an official.

"Around 60,000 employees working in public/private/foreign and regional rural banks struck work. Around 8,800 bank branches were closed," C.H. Venkatachalam, general secretary of All India Bank Employees Associaiton (AIBEA), told IANS here.

He said around 2.3 crore cheques with a value of around Rs.1.75 crore were held up due to the strike in the clearing house here.

The bankers are holding protest demonstration at Valluvar Kottam area.

The strike has been called by United Forum of Banking Unions (UFBU) comprising employee unions like AIBEA, National Confederation of Bank Employees, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers Congress, National Organisation of Bank Workers, All India Bank Officers Association, and National Organisation of Bank Officers.

The unions are demanding a wage hike of around 23 percent whereas the Indian Banks' Association (IBA) has offered only 11 percent hike, Venkatachalam said.