Strike hits banking operations

Source: The Hitavada      Date: 01 Mar 2017 08:42:09


Feb 28,


BANKING operations were hit on Tuesday by the day-long, nation-wide strike called by employees of public sector banks, with ATMs running dry at various places across the country.

The All India Bank Employees’ Association (AIBEA) claimed success, saying all the branches kept their shutters down.
“People could not go to banks to transact anything, deposit money, withdraw money or do any other transaction. Government treasury transactions could not be done, import and export transactions were hit, money market operations were not possible,” AIBEA General Secretary C H Venkatachalam told PTI. Money transfer and cash remittances were also hit.

Venkatachalam said clearing operations have been paralysed in a big way despite the Reserve Bank keeping its operations open because employees were not available. Some private sector banks are also part of the strike called under the aegis of the United Forum of Bank Unions (UFBU) to press their demands including fixing accountability of top officers over increasing bad loans, opposing labour reforms as well as outsourcing of permanent jobs. Karur Vysya Bank and Federal Bank said Staff Union and Officers Association of the Bank under the banner of UFBU are participating in the strike.

“Regular functioning of the branches of the Bank might be affected on that day. However, the Bank’s ATMs and digital channels will function to meet customer needs,” Federal Bank said.
Private sector banks including ICICI, HDFC, Axis were not part of the strike.