Banking services partially impacted on second day of nationwide strike

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Banking services were partially affected for the second day of Tuesday, when some of the bank employees came to support the national strike called by the central trade unions.

Transactions at many public sector banks were affected as employees failed to show up for work. In addition, there have been delays in clearance of checks and the operations of the public treasury have also been affected due to the strike.

“According to our reports, in the Southern Grid operating in Chennai, during our strike yesterday and today, around 6 lakh cheques/instruments worth around Rs 5,000 crore could not be sent for clearance as the branches did not operate due to the strike,” Tous said Indian Bank Employees Association (AIBEA) Secretary General CH Venkatachalam.

Nationwide, about 20 lakh checks worth around Rs 18,000 crore could not be cleared, he claimed.

Banking unions are protesting against the government’s decision to privatize two public sector banks, as announced in the 2021-22 budget. They are also asking for an increase in the interest rate on deposits and a reduction in service charges.

Apart from AIBEA, Bank Employees Federation of India (BEFI) and All India Bank Officers’ Association (AIBOA) are also part of the two-day strike call launched by the joint forum of central unions and various sectoral independent unions to protest against the so-called anti-people economic policies and anti-worker policies of the government.

All Indian Trade Union Congress (AITUC), Indian Trade Union Center (CITU) and Indian National Trade Union Congress (INTUC), among others, are demanding the abandonment of the proposed labor law amendments and privatization in all its forms.

The increase in wage allocation under the MNREGA (Mahatma Gandhi Rural Employment Guarantee Act) and the regularization of contract workers are also part of their demands.

Most banks, including the State Bank of India (SBI), had given their customers advance notice of the proposed strike and its likely impact on services.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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