PSU bank staff strike cripples trade & industry

However,industrialists have written to the Reserve Bank of India (RBI),the country’s central bank,that they should not be charged interest on loans for these two days because it is not their fault.

Badish Jindal,president of the Federation of Punjab Small Industries Association (FOPSIA) has stated that in Punjab,trade and industry is facing transaction losses of more than Rs 10,000 crore and financial losses of more than Rs 400 crores in just two days.

Beside this,trade and industry of Punjab will be forced to pay an interest amount of more than Rs 300 crore just for these two days.

Due to this strike,many of the state’s Industrialists will be forced to suffer by not participating in important tenders and deals.

Exporters will have to suffer losses due to non-payment of shipments and custom charges on time,which will result in the slapping of heavy penalties by the concerned departments.

Imports and incoming material too will be delayed,he added.

“As such,industry will be suffering just due to the illegal demands of the bank employees. So we strongly suggest and demand that two days’ bank interests on all loans should be waived and this amount should be deducted from the salary of the bank employees on strike,” added Jindal.