The United Forum of Bank Unions (UFBU), which represents nine trade unions, said they will also hold a three-day strike from March 11-13
Cash deposit and withdrawal, and cheque clearances have been impacted due to the nationwide strike
Banking operations across India could be hit today as employees of two bank unions are sitting on a 24-hour bank strike
While banking operations are expected to be hit due to the strike, many banks, including branches of SBI are likely to remain open
Bank union is protesting against the government's decision to merge ten public sector banks into four banks
For long, banks' managements resisted officers' attempts to unionise
The All India Bank Employees Association and Bank Employees Federation of India has informed the Indian Banks' Association of the two-day nationwide strike
PSBs need to get over the vexed issue of wage negotiation, and collectively work to promote an institutional environment
In the afternoon, over 5,000 bank staffers staged a rally at Mumbai's Azad Maidan and raised slogans opposing the proposed merger
With branches closed, cash transactions are also set to take a hit
According to AIBEA General Secretary C H Vekatachalam, the strike is effective across the country and employees are fighting for a right cause
The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts
Private sector banks will continue to function as usual
The strike call comes on the heels of an officers union of state-run banks observing a day-long strike last Friday
Given that the public sector banks alone control 75 per cent of the total business in the country, the public is sure to face some inconvenience
The unions have opposed the Indian Banks' Association's offer of a 2% pay hike
The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, called for a two-day strike that started on Wednesday
The employees went on strike starting on Wednesday against the 2 per cent wage hike offered by the IBA
Banking operations across the public sector banks have come to a halt as a result of two-day strike on May 30-31 organised by the employees against a wage increment offered by IBA.
85,000 branches shut operations on Wednesday; 3.9 million instruments remain unprocessed