2-day bank strike from today cripples financial transaction


New Delhi:  Banking operations were hit across the country as employees of public sector banks went on a two-day nationwide strike starting from today.

The bank employees took to the streets after a two per cent salary hike failed to convince the bank unions and several rounds of talks between banks and the unions of their employees did not make any headway.

Salary withdrawals are likely to get affected as protest dates coincide with the month end. ATM transactions may also take a hit.

Besides, deposit in branches, FD renewal, government treasury operation, money market operation saw the impact of the strike. Online banking operations, however, are available at all times.

The United Forum of Banking Unions has demanded early wage review settlement, sufficient increase in salary, improvement in other service conditions and wage revision settlement for all officers up to scale VII.

The Chief Labour Commissioner supported the issues and asked Indian Banks’ Association to respond positively. He had also said that officers and employees have to be paid for hard work and not based on profit.

The wage revision for all banks is due since November 1, 2017.

There are as many as 21 public sector banks that control 75 per cent of the total business in the country.

On May 5, the Indian Banks’ Association offered 2 per cent hike which was rejected by unions calling it unjust. The Association refused to revise wages for all officers citing poor financial condition of banks.

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