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Banking and insurance services were affected across the country on Friday as financial sector employees went on strike to protest against the government’s “indifference” to their demands for better wages and the “anti-worker” changes in labour laws.
According to the unions, public sector bank employees were largely absent, hitting clearing services. Private banks continued their operations normally.
“Clearing services were impacted. Financial instruments worth Rs 19,000 crore were held up,” said AIBEA General Secretary C H Venkatachalam.
According to industry chamber Assocham, the strike affected trade, transport, key manufacturing facilities and banking services and may cause an estimated loss of Rs 16,000-18,000 crore to the country’s economy.