Bank services hit across country as staff go on strike

Indian bank employees representing the All India Bank employees Association AIBEA protest during a strike in Hyderabad on August 22 2017 Bank employee unions have called for a nationwide strike in India to protest against privatisation and merger of public sector banks PicAFPNew DelhiMumbaiChennaiKolkata Banking operations across the country were hit on Tuesday as over 10 lakh bank employees in more than 130000 branches panIndia struck work protesting against reforms in the banking sector among other issues thereby affecting chequeclearing activityAn official of the United Forum of Bank Unions UFBU the umbrella body of nine unions which has given the strike call said over 10 lakh bank employees spread in more than 130000 branches across the country have struck work hitting chequeclearing activityMost public sector bank branches visited by IANS correspondents had their shutters downBanking operations in Tamil Nadu were affected with around 55000 bankers striking work pressing for their demands said a report from Chennai citing a top All India Bank Employees Association AIBEA leaderThe strike is a huge success It is a dawntodusk strike as cheque clearing operations start at 6 am Bankers working in around 10300 branches struck work protesting the policies towards the sector CH Venkatachalam General Secretary AIBEA told IANSVenkatachalam said around 12 lakh financial instruments valued at around Rs 7300 crore would not be clearedWith branches closed automated teller machines ATMs might get empty sooner than normalGovernment treasury transactions would also be impacted Foreign exchange transactions import and export bill transactions sanction of loans and others would also be affectedIn most of the places clearing operations particularly outward clearing was seriously affectedNormally in the three clearing grids functioning from South West and North Chennai Mumbai and Delhi on an average about 40 lakh cheques and instruments worth about Rs 20000 crore are transacted per day This has been affected in a big way as a result of the employees stir Venkatachalam saidOver 150000 bank employees in Maharashtra joined the nationwide banking strike paralysing all financial operations in the countrys commercial capital a union official said in MumbaiThe strike hit all the 42000 branches of 21 public sector banks including the monolithic State Bank of India and IDBI 18 oldgeneration banks eight foreign banks and 56 Regional Rural Banks in Mumbai and Maharashtra said All Indian Bank Employees Association AIBEA leader Vishwas UtagiAll cheque clearing operations financial transactions and other routine daily banking functions are stopped today Tuesday due to the strike Many ATMs which are now functional may run out of cash by noon as there will be no replenishment Utagi told IANSThe strike comes after the talks here between UFBU on one side and Indian Banks Association Chief Labour Commissioner and Department of Financial Services DFS failed on FridayAll India State Bank Officers Federation and All India State Bank of India Staff Federation being part of the UFBU will participate in the strike It is likely that our bank will also be impacted by the strike State Bank of India SBI said in a regulatory filing in the BSEAmong the 17point charter of union demands the main relates to the governments denial of adequate capital to public sector banks thus creating conditions for privatisation an AIBEA statement said on TuesdayThe oneday banking strike has been successful as close to 9500 ATMs and around 3000 branches are closed with 70000100000 bank employees participating in the protest in West Bengal AIBEAs West Bengal General Secretary Rajen Nagar said in KolkataAll India Bank Officers Associations West Bengal General Secretary Sanjay Das said employees and officers from cooperative and Grameen banks including regional rural banks also participated in the strike and private banks branches were mostly closed as their employees supported unions demandThe strike is 100 per cent successful Bank employees and officers are conducting a demonstration in front of banks branches and ATMs Das saidThousands of employees of staterun banks began daylong strike in cities and towns across Karnataka affecting cash and other transactions for the day said a report from BengaluruWe have received an overwhelming response from all our members for the strike call in support of our demands including our opposition to the merger of staterun banks state AIBOC General Secretary ANK Murthy told IANSIn Bengaluru hundreds of employees of various banks took out a rally and staged demonstrations protesting against the governments proposal to merge their banksPrivate banks including ICICI Bank HDFC Bank Axis Bank and Kotak Mahindra however opened for business as usualBanking services were badly affected in the Leftruled Tripura on Tuesday as most of the major banks remained closed due to a nationwide employees strikeThe striking employees were protesting the antipeople banking reforms and demanding for compensation to employees for extra work done on account of demonetisation of highvalue currencies since November 8 2016 and booking loan defaultersAccording to Nikhil Das a leader of the striking employees around 3000 bank employees belonging to about 414 branches of 15 nationalised regional rural and cooperative banks in the northeastern state took part in the strike in TripuraA large number of ATMs also remained closed creating problems for the customers