Bank Strike Today HIGHLIGHTS: Banking operations in some parts of the country are affected as two employee-unions are observing a nation-wide strike today. Services like cash deposit and withdrawal at the counter and cheque clearances have been hit due to shortage of staff.
However, branches of public sector banks in urban areas are operational. Most of the banks including the country’s largest lender, State Bank of India (SBI), have already informed customers that the strike would have minimal impact on their operations. “The membership of our bank employees in unions participating in strike is very few, so the impact of strike on banks operation will be minimal,” SBI said in a filing to stock exchanges last week.
All India Bank Employees’ Association (AIBEA) and Bank Employees Federation of India (BEFI) have called for the strike from 6 am on Tuesday till 6 am on Wednesday in protest against the recently announced bank mergers, falling deposit rates and outsourcing of jobs. The unions said they are opposed to outsourcing of regular banking jobs and privatisation of the banking industry. They called for an increase in recruitment of clerical and sub-staff and stringent steps to recover mounting bad loans.