Bank strike affects cash transactions,clearing

Employees under the banner of All India Bank Employees8217; Association AIBEA and All India Bank Officers8217; Association AIBOA joined the strike. However,employees of the largest bank SBI refrained from the strike.

Cheque clearing operations of the bank were also affected and ATMs in parts eastern region and Kerala ran out of cash,he claimed.

He said there should be no consolidation in the public sector banks in the name of creating global-sized banks.

In a bid to avoid inconvenience to customers,many public and private sector banks had informed in advance that the normal functioning at bank8217;s branches may get affected in view of the strike call by the two bank unions.

PSU banks control about 70 per cent of the banking operations in the country.