Friday, July 29th, 2016

Banking services hit as employees on strike against banking reforms

Narada Desk | July 29, 2016 12:36 pm Print
Banking employees have called for strike against the reforms proposed by the government including the merger of SBI's associate banks
bank strike in India today.

Banking operations across the country were hit on Friday as around a million employees of private and nationalised banks struck work for a day to protest against central government’s policies for the sector.

The trade unions had given calls for strike  to protest  against the merger of the five associate banks with parent entity State Bank of India and also against the privatisation of IDBI.

The unions are also opposed to the move to privatise regional rural banks and co-operative banks, and consolidate and merge banks, among others, he added.

Most banks, including SBI, informed customers that banking services would be hit on 29 July due to the strike at all banks on “issue and demand to stop banking sector reforms”.

“The strike has evoked a good response nationwide as around ten lakh have participated in it. Most of the nationalised banks are closed,” C.H. Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), told IANS in Chennai.

Echoing this, K. Phamaraiselvan, General Secretary of Andhra Bank Employees Union (Tamil Nadu unit) said: “The banking operations have been paralysed nationwide.”

Earlier this month, major bank unions deferred a two-day strike call for July 12 and 13 following a restraint order by the Delhi High Court.