The two-day nationwide strike by the public sector bank (PSB) unions ended on Tuesday, with disruption in services like cash withdrawals, deposits, cheque clearances
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Meet in Hyderabad to discuss Budget announcements on privatisation of IDBI Bank and two Public Sector Banks, setting up bad bank, LIC disinvestment among other things
Says depositors lose their savings, wonders whether it is prudent to allow both the lender and the borrower to be owned by the same set of people
Venkatachalam alleged that govt's decision to merge 10 banks would lead to the closure of six banks - Andhra Bank, Allahabad Bank, Corporation Bank, Oriental Bank of Commerce, Syndicate Bank and Unite
IBA offered a 15 per cent hike in wages, a revision over previous offer of 12.5 per cent at bilateral meeting of bank and trade union representatives to avert agitation by bank employees
The PIL said such strikes by bank unions are illegal and are meant only for their own financial benefits at the cost of the public who have to suffer harassment and financial loss.
The bank unions have called for a nationwide strike demanding to expedite the process of wage settlement due since November 2017
Heavy police deployment was seen in several areas of the city, including in Tollygunge, Behala, Esplanade and Jadavpur
In the Clearing Grids, about 28 lakh cheques worth about Rs 21,500 crore will not be cleared due to the strike
Workers from both the organised and unorganised sector are expected to participate in this strike
Cash deposit and withdrawal, and cheque clearances have been impacted due to the nationwide strike
While banking operations are expected to be hit due to the strike, many banks, including branches of SBI are likely to remain open
AIBOA, the Indian National Bank Officers' Congress and the National Organisation of Bank Officers had called for a two-day strike opposing the amalgamation of banks
In the last wage settlement, which was for the period November 1, 2012 to October 31, 2017, IBA had give a wage hike of 15 per cent
Bill is currently undergoing scrutiny by a joint committee of Parliament
Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard